Top 5 Destinations for Expats Revealed in New Survey
A new survey carried out by high street bank HSBC – which often markets itself as “the world’s local bank” – has revealed the top five destinations for expats.
Analysing “the Expat Experience”
The annual study analyses ‘the expat experience’ of several important day-to-day factors, in order to rank 31 key countries from best to worst. These factors include the likes of:
- Work/life balance
- Quality of life, culture, property and health
- Career progression
- Personal finance
- Childcare and impact on families
- Local economics
- Ease of integration
- General safety
- Ability to make friends and socialise
Interestingly, this year’s study has ranked Singapore as the number one destination for the second year running.
According to the report, those who move to the city-state can expect to see their earnings increase by almost a third (29 per cent), while the so-called ‘Lion City’ also ranks highly in terms of local economics and quality of life. However, many expats told HSBC that moving to Singapore had resulted in a slightly worse work/life balance than being at home, with the average working week clocking in at five and a half days.
The Pursuit of a Better Work/Life Balance
Those who want to enjoy a better work/life balance might find Germany more suited to their tastes. HSBC’s report found that Germany had the lowest average working hours around the world – sitting at just 26 hours per week. Almost three quarters (71 per cent) of people who moved there reported a better work/life balance, while more than half (58 per cent) said it had helped them to progress in their career. This earned Germany the ‘third best expat destination’ ranking in the survey, falling ever so slightly behind New Zealand.
Best Ranked Emigration Countries
New Zealand ranked as number two predominantly due to expats’ positive experiences of the country’s refreshing natural landscapes. 60 per cent of people who moved there reported an improved quality of life, while a similar number (56 per cent) said life in New Zealand had encouraged them to become more physically active and improve their general wellbeing. Canada ranked as the fourth best expat destination in the survey, followed closely by Bahrain, which was ranked fifth.
70 per cent of people who went to Canada said that their experience of integrating into the country was almost completely hassle-free thanks to its famously friendly people, while 48 per cent of those who moved to Bahrain said that the emerging economic powerhouse was a great place to go to increase their income and help them to pay off debts.
Here at Healthcare International, we provide a diverse and varied range of insurance products for expats moving to countries all over the globe. To find a policy suitable for you, please get in touch.