Asia is the new hub for expat advancement and wealth

Findings from HSBC Bank’s annual expat survey indicate that Asia is becoming the favourite destination for company expat workers hoping to grow their careers and their financial status.

The survey also showed that nowadays Europe is considered mainly as a retirement haven in the sun, with France and Spain popular choices but India and Britain taking the top spots. Germany attracts the young intent on boosting their careers, particularly in the technology sector, and Britain is a favourite for entertainment and culture.

In the hope that an understanding of the career, financial needs and dreams of expats of all ages might draw more business, banks around the world are hoping their surveys will attract more movers, shakers and high earners to their financial management services. HSBC’s is one of the largest such, and draws an interesting picture of a world where special skills and brainpower are steadily moving east to serve emerging economies.

Five Asian countries were ranked in the top ten favoured destinations for economic advancement and four were in the top 12 for their quality of expat life. Singapore is a top destination, and China is shooting up the scale, but for raising a family amid the great outdoors, Canada and Australia seem hard to beat.

The Middle East is the choice of young people looking for super-salaries, but it’s bad news for families in terms of integration and friends for children. Britain was commended for its culture and arts, but many Britons surveyed preferred to live their working lives there, then retire to somewhere warm and embrace the expat lifestyle.