A survey commissioned by HSBC Expat showed that China is the top destination for high earning expats. According to the survey, 29 per cent of expatriates who earn more than $250,000 a year are working in China as compared to the global average of 7 per cent. Over 9,000 expats in more than 100 countries were surveyed.
India comes second (18 per cent), followed by Switzerland (17 per cent), Hong Kong (16 per cent) and Russia (16 per cent). "Asia is the place to be for higher earning expats in 2014 as the world's highly mobile force of successful expats look for new opportunities," the survey said.
Expat in Asia are the most likely to earn over a quarter of a million dollars, the survey said. Around 14 per cent of expats in Asia earn over $250,000 per annum, compared to only 5 per cent in Europe, the survey showed.
The survey findings also revealed that higher earning expats are flocking to Asia to capitalise on new opportunities, where growth is expected to take off in the coming years. "Expats there are almost three times more likely to earn over $250,000 per annum than their counterparts in Europe," said Dean Blackburn, Head of HSBC Expat.
The survey also ranked countries based on combined parameters of expats household income, personal disposable income and satisfaction with the host economy scores. China topped this Expat Economics rank, followed by Switzerland and Singapore. India was ranked at the 12th position.
On the individual parameter of household income, China also topped the table and was followed by Switzerland and Hong Kong. In personal disposable income, China topped the table and was followed by Vietnam and Thailand.
HSBC Expat Economics rank and score
Source: HSBC Expat Explorer survey
China, however, ranks third in the list of world's favourite destinations among expats. Switzerland topped the list followed by Singapore. "The days of moving abroad purely for monetary reasons, desirable expat benefits and healthy salaries seem long gone as expats today seek out locations that offer more balanced and well-rounded lifestyles," says Mr Blackburn.
HSBC Expat is a provider of offshore financial services and is part of the HSBC Group, one of the world's largest financial services organisations.
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