JavaScript is off. Please enable to view full site.

Vietnam is world’s top hot spot for expats: HSBC

Vietnam is world’s top hot spot for expats: HSBC

Thursday, October 11, 2012, 17:59 GMT+7

According to a recent HSBC survey, Vietnam stands 10th on the overall Expat Explorer Economics league table that ranks countries and territories based on a number of factors such as earning levels, disposable income and ability to accumulate luxuries. Singapore tops the list.

This means that Vietnam is among the 10 leading destinations in the world for expat earning potential according to the HSBC Expat's Expat Explorer survey.

Singapore tops the list, followed by Bermuda (2nd), Thailand (3rd), Hong Kong (4th), Cayman Islands (5), Mexico (6), China (7) and Switzerland (8) and Bahrain (9).

Nearly 50% earn more after moving to Vietnam

While half (47%) of expats in Vietnam agree that they earn more since moving to the country and two thirds (63%) think that the financial status of their household has improved, only a third (30%) associate the country with higher salaries compared with its Asian counterparts.

A third (33%) found that they have better life opportunities than in their previous country which is a very small proportion when compared to two thirds (60%) worldwide. However, expats are generally in agreement that Vietnam is on the way up with over half (57%) thinking that country is getting better for expats.

In terms of expat experience, Vietnam falls into the fourth quartile of the Expat Experience league tables at 27th. Despite the lower rankings, those surveyed in this study are often surprised by what the country has to offer. A third (30%) expected a better quality of life but upon relocation, two in five (40%) actually found that to be the case.

While the quality of life may not be as good as in other countries, expats often head to the country to challenge themselves. Almost three quarters (73%) have found that they have developed and been stretched as individuals, and nearly the same proportion (70%) expected to lead a more interesting life and associate the country with being a culturally interesting place (63%).

Those living there have generally found a good work balance; half (50%) said it is better than in their previous country. This may be in part due to the higher standard of accommodation. Over half 53% believe that they have better housing and living quarters than in their home country, while a quarter (27%) have a swimming pool when they didn't before. Two in five (40%) of expats also enjoy more domestic help than they did in their home country.

Despite the difficulty of the local language with three quarters (70%) described learning it as difficult – expats in Vietnam still make an effort to learn and use the language (70%).

Nearly two thirds (63%) associate the country with friendly locals. In spite of this, there is still a strong expat community, with over half (53%) saying that they have more expat friends than locals and only one in five (20%) saying that they have more local friends.

Southeast Asia in dominance

In the midst of wider global turmoil, expats in Southeast Asia continue to benefit from increased earnings with Singapore holding the largest proportion of wealthy expats of any country. More than half (54%) of Singapore-based expats who took part in the Expat Explorer survey earn more than $200,000 USD per year, compared to a global survey average of only 7%.

Furthermore, four in five (80%) expats in Singapore saw an increase in their disposable income since relocating.

The dominance of Asia in this 2012 report is different from previous years when the Middle East boasted the wealthiest expatriates.

In the 2011 survey, Saudi Arabia occupied the top spot, with Egypt, the United Arab Emirates, Qatar and Bahrain also featuring in the top 10.

This year, the only country in the Middle East to appear in the top 10 was Bahrain, with Saudi Arabia falling to 18th place.

HSBC said that the high ranking of Singapore and Vietnam this time suggested that Southeast Asia in particular is coming to the fore as a region where expats can boost their earnings potential.

The annual Expat Explorer survey, now in its 5th year, is the largest global survey of expats. In 2012, HSBC Expat's Expat Explorer surveyed 5,339 expats from nearly 100 countries worldwide; making it the largest ever sample to date. 

tuoitrenews

More

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news