Expats have rated Singapore as the best country in the world to live and work, while Norway rose four places to come in second, according to the new Expat Explorer survey released today by HSBC, one of the world’s largest banking and financial services organizations. Culturally very different yet both highly-regarded, Singapore and Norway offer expats a stable economic and political environment while giving them a fulfilling experience and an improved family life. For expats in the US, the “land of opportunity” description still rings true. Ranked first for career progression, almost three quarters of expats in the US, 73% compared to 54% globally, believe America is a good place for those hoping to boost their career prospects.
The HSBC Expat Explorer survey is the world’s largest and longest running study of expat life, asking more than 27,500 expats about their experience abroad. As well as unveiling the best places in the world to live as an expat, the survey also found that life abroad typically increases expats’ income by 25%, with the average expat earning just under $100,000 a year. The average income for expats in the US is just over $161,000. Far from compromising their wellbeing, expats seem to find the right balance. Four in ten (40%) adopt a more positive outlook on life after moving abroad, with 45% becoming more physically active.
“The expat community is incredibly diverse and enterprising,” said Pablo Sanchez, HSBC’s Head of Retail Banking and Wealth Management for the US and Canada. “Here in the US, more than half of expats surveyed, 53% compared with a global average of 41%, said the US is a good place to start a business and ranked the US fifth for entrepreneurship. Earnings potential are high too. More than six in ten (62%) report that the US offers better income opportunities than their home nation. However, becoming an expat and living across international borders can have its challenges. Whatever the priorities, whether it’s work or play or a bit of both, having financial planning and tailored financial solutions that work globally can ease bumps in the road.”
Read the press release here: Singapore the top expat destination for the third year in a row
Read the full report here: https://expatexplorer.hsbc.com/survey/files/pdfs/overall-reports/2017/YouGov_HSBC_Report_Final.pdf
For more information visit: www.expatexplorer.hsbc.com