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Expat news: Moving abroad could boost your annual income by £14,600 a YEAR | Personal Finance | Finance
Published On: Thu, Oct 11th, 2018

Expat news: Moving abroad could boost your annual income by £14,600 a YEAR | Personal Finance | Finance


A total of 45 percent of respondents to new research from HSBC said they are earning more while working somewhere new, while 28 percent made the plunge to further their career.

The 11th annual Expat Explorer survey revealed Switzerland as the place for biggest pay packets, with the average salary increase coming in at a whopping £46,750.

In Switzerland, the average annual expat salary is the highest in the world at £155,495.

The USA takes second place at an eye-watering £141,885, with Hong Kong came in at third at £136,970.

While in China, the average salary was £132,952.

John Goddard, Head of HSBC Expat, said: “A taste of life in a new location can be the key to unlocking your creative potential, finding the work/life balance you’ve been craving, or taking your career in a new direction.

“However, too many expats spend their first months abroad stressed because they didn’t get their finances in order before moving.

“While a move overseas can often mean a rise in disposable income it also brings complexity.

“Seeking advice before you move to set up a bank account in your new destination, finding the best way to transfer money internationally and making the most of any additional savings can help you focus on your career and settle more quickly in your new home.”

Sweden and Brazil came out top in the survey for offering a creative work environment, while the UK and USA were voted the best places to get ahead in your career.

Expats in Thailand said the working culture has made them happier, more than anywhere in the world.

Meanwhile, those being worn down by a long journey to work should consider New Zealand or Bahrain – international workers in both countries are most likely to cite a shorter commuting than at home.

COUNTRY AND AVERAGE ANNUAL EXPAT SALARY

Switzerland – £155,495
USA – £141,885
Hong Kong – £136,970
Mainland China – £132,350
Singapore – £124,295
United Arab Emirates – £118,830
India – £100,985
Indonesia – £98,090
Japan – £97,620
Australia – £96,420



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Expat news: Moving abroad could boost your annual income by £14,600 a YEAR | Personal Finance | Finance