Switzerland remains best all-round destination
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While Switzerland remains the best all-round destination for pursuing a career abroad, Hong Kong ranks number one for those looking to fast-track their career, according to a survey of 26,871 expats from over 100 countries released by HSBC.
The Expat Explorer Careers Table ranking is based on eight criteria: the chance to acquire new skills, career progression, job security, earnings, benefits packages, work-life balance, work culture and fulfilment at work.
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Expat Explorer Careers Table |
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Top 10 places for a successful expat |
2016 Rank |
2015 Rank |
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Switzerland |
1 |
1 |
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Germany |
2 |
3 |
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Sweden |
3 |
2 |
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UAE |
4 |
6 |
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Norway |
5 |
- |
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Singapore |
6 |
5 |
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Austria |
7 |
- |
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Hong Kong |
8 |
8 |
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United Kingdom |
9 |
18 |
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Bahrain |
10 |
7 |
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Canada |
16 |
15 |
Best place for expats to:
Progress their career: Hong Kong. When it comes to career development, the majority of expats in Hong Kong (68 per cent), Singapore (62 per cent) and the United Kingdom (62 per cent) agree it is a good place for expats to progress their career, compared to 51 per cent in Canada and above the global average of 43 per cent.
Make money: Switzerland. The average annual expat income in Switzerland is US$188,275, almost twice the global average of US$97,419. In comparison, the average expat in Canada earns US$84,280.
Find work-life balance: Norway. At 87 per cent of those surveyed, expats in Norway are the most likely across all markets to see an improvement in their work-life balance as well as a better work culture than in their home country. In comparison, 60 per cent of expats living in Canada see an improvement in their work-life balance.
Build new skills: The U.K. The U.K. has jumped nine places (18th in 2015), with expats there among the most likely in the world to pick up new skills compared to their home country (64 per cent) and progress their career (62 per cent), compared to 54 per cent and 51 per cent, respectively, of expats in Canada.
Achieve overall success: Switzerland. For the second year in a row, Switzerland is ranked the best all-round destination for a career abroad. In addition to being a top spot for earnings, 69 per cent of expats in Switzerland see an improvement in their work-life balance and 61 per cent say the work culture is better than in their home country. In comparison, Canada fell one spot to 16th place overall compared to the previous year.
Millennials (18-34) versus generation X (35-55):
Younger expats are the most likely of all age groups to move abroad in search of greater fulfilment and purpose at work, and many succeed in finding it, said HSBC. More than one in five (22 per cent) of expat millennials say they moved abroad to find purpose in their career, compared to 14 per cent of gen X expats.
Millennial expats also have high ambitions for their careers, with 37 per cent saying they embraced expat life to improve their job prospects, compared with 25 per cent of gen X expats, found the survey. Expat millennials are also more likely than older generations to have moved abroad in search of a new challenge. Forty three per cent of expat millennials say they were motivated by finding a new challenge, compared with 38 per cent of those aged 35-54 and 30 per cent of expats aged 55 and over.
