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If you’re debating moving abroad for work there will be lots of factors that you’ll be taking into consideration and although there are a number of advantages to moving abroad for work there’s one factor that usually drives the ultimate decision and that’s the financial gain.
Expat packages can vary significantly from country to country but most packages should include an accommodation allowance, relocation costs, healthcare cover, an annual trip home and an education allowance for children.
If you’re considering relocating to Asia, here are the top five countries with the best expat packages.
It may come as a surprise but Japan comes top of the list when it comes to offering the best packages to expats in Asia. The average expatriate pay package provided by companies in Japan to mid-level employees is £298235 a year according to the ECA International survey, which trumps what’s on offer anywhere else in the region. Due to the yen being stronger and a significant spike in housing costs Japan also saw the biggest increase in expat package values last year.
There’s a huge skills shortage in sectors such as IT and science technology in China that expats can take advantage of. With this high demand for professional-level and experienced workers, it has meant that the value of packages and salaries on offer in China has increased. Expat packages in China are now the second-highest in the Asia-Pacific region. It’s in the top 10 countries for average expat salaries for young professionals and it comes in seventh for income in the HSBC Expat Explorer Survey too. The ECA International survey showed that expat middle managers in Mainland China receive an average offer of RMB1.94 million (£213057.11) deal,
Singapore is often considered to be one of the best places to be an expatriate due to its commitment to a good work/life balance, high quality of living plus excellent options for education and accommodation, exceptional healthcare and a large expatriate community. An extra bonus is that it also offers high earning potential and comes in ninth overall for income in the HSBC Expat Explorer Survey and 2nd overall when all criteria are taken into consideration. The average annual pay package for expatriate middle managers in Singapore is approximately £182947.56, which was an increase of 5.9% compared to that of a year ago. This sum includes an average cash salary of £69823.59, according to an annual survey by ECA International.
If you’re a young professional there’s a lot of financial incentive to move to Indonesia for work. As it stands the country offers the top average expat salary for those under the age of 35, however that’s not to say that income for more experienced workers in a higher age bracket is not generous. Expatriates in Indonesia are usually paid international salaries and the expat packages that are offered usually cover housing, schooling, a car and sometimes even utilities or a driver. The cost of living throughout Indonesia is low, but it’s also worth noting that the country has dropped from 13th to 31st overall in the HSBC Expat Explorer Survey from 2018 to 2019.
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