It is reported that British expats, on average, are seeing a £14,600 injection of cash into their annual salary after moving abroad. Skilled expats are packing their bags and heading for new climes so that they can cash in on extra cash other Brits are earning.
These findings come as a result of HSBC’s 11th annual Expat Explorer survey which unveils what life is really like for expats around the globe. 45% of respondents to the latest survey stated they are earning more money in their new country and 28% mentioned that they headed abroad to grow their career.
In terms of salary, Switzerland takes the crown for the highest annual expat wage, coming in at £155,495. This is followed by the USA at £141,885 and Hong Kong in third at £136,970.
Head of HSBC Expat, John Goddard, commented: “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 com.”
Other countries that performed well in different categories included Sweden and Brazil; noted for their creative work environments. Both the UK and USA were ranked as the best places to get propel forward with your career, whereas Thailand was said to have the most attractive working culture and expats are happiest here in terms of employment. For those sick of the London commute, international workers in both Bahrain and New Zealand benefit from a quick journey to and from work.