Why Expatriates Love Life in Asia
If you haven’t heard, the latest results on the HSBC Expat Explorer survey are in and Asian countries did very well when diving into the results. If you’re looking for somewhere to relocate and live life as an expat but don’t have at least one Asian country on your list- you’ll want to explore why it’s at the top of the survey and reconsider. There are two primary considerations. Live in Asia provides higher salaries with a lower cost of living.
Expatriates Earn the Higher Salaries Living in Asia
This year’s expat survey unveiled that Asia gives financial satisfaction to expats as they are among the highest paid expats in the world. The percentage of expats in Europe who enjoy a more than $250,000 annual salary is at 3% and the typical expat earning in European countries is less than $60,000 in countries like Spain (83%) and Italy (82%). In comparison, Asia has the highest proportion of expats who receive more than $250,000 annually like in Indonesia (22%), Japan (13%) and China (10%).
While finances helped Asian countries crawl to the top of the survey findings, there was another favorable reporting that contributed to their rise. Thailand receives a first place ranking when it comes to disposable income and working environment – but also first for social life, local culture, local markets, and healthy diet.
Looking more closely at the country that was placed in first overall, China, we see that it was ranked third for income and second for host economic satisfaction, but also third for overall experience satisfaction. While economics played a large part- the overall experience did as well.
Most Affordable Cities in Asia to Live In
Some of the least expensive, or cheapest, cities in Asia to live in are listed below (source: PriceOfTravel.com)
- Hanoi, Vietnam
- Vientiane, Laos
- Pokhara, Nepal
- Chiang Mai, Thailand
- Hoi An, Vietnam
- Ho Chi Minh City, Vietnam
- Manila, Philippines
- Phnom Penh, Cambodia
- Goa, India
- Delhi, India
Most Expensive Cities in Asia for Expatriates and Travelers
In general, the more modern and larger cities often are the more expensive cities in Asia. According to Expatistan, here is a list of the most expensive cities in Asia:
- Hong Kong
- Tokyo, Japan
- Seoul, South Korea
- Taipei, Taiwan
- Shanghai, China
- Bangkok, Thailand
- Beijing, China
- Shenzhen, China
- Jakarta, Indonesia
Another Asian country that was ranked toward the top of the list is Singapore. Expats ranked Singapore third in the survey and while financial satisfaction was one reason why? One of the top reasons: it’s a safe place for expat children. In fact, nearly nine in ten expat parents in Singapore say that it’s a child-safe haven.
If interested, you can read more on the HSBC Expat Explorer survey results here.