Economic factors and quality of life are two big draws for professionals and executives who come to China to work, according to the 2012 edition of HSBC’s annual survey of expatriates.
64% of expats in China said they witnessed a marked improvement in the financial status of their household, with 29% reporting that their household income has increased by 50% or more since relocation. Over two thirds (69%) also cited an increase in disposable income. These rosy financial statistics may suggest why almost half (49%) of all expats relocating to China did so on the expectation that they would earn more money.
China ranked 7th overall on the Expat Explorer Economics league table, up from 19th in 2011. As well as income, domestic help and high quality accommodation were highly rated by those surveyed. Chinese healthcare however did not impress expats, scoring lowest on the list of economic factors which determine league table position.
As for non-economic factors, China was ranked 22nd overall. The ability to make friends and travel in China were both scored highly; whereas the notoriously difficult Chinese language put off some expats. Again healthcare scored the lowest, as did banking and organising finances. Almost half (44%) of those surveyed believe China offers a high qualtiy of life for expats.
Asian countries dominated the top ranks of this year’s survey, with Singapore as the number one destination for expats, with Thailand a close second and Hong Kong in 5th position. Noticeably, the quality of healthcare and banking were rated significantly higher by expats in the Hong Kong SAR than those on the mainland.
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