According to the 2019 HSBC Expat Explorer Survey, 18 to 35-year olds who move abroad see a salary increase of more than a third. In this blog we have listed the top 10 countries where you can expect to earn more money, based on how much disposable income the survey found expats in different countries to have. The more disposable income you have, the more you can spend on living your best life abroad!
1. United Arab Emirates
UAE ranked in 1st place for disposable income in the HSBC Expat Explorer Survey, which is down to the fact that your income is completely tax-free in UAE! Check out our blog on the top reasons to move to UAE to find out why so many expats choose to live and work there.
Switzerland was crowned the best country for expats in the HSBC Expat Explorer Survey. Quartz has reported that employees who relocate to Switzerland can earn an average annual salary of over $100,000. 70% of expats said in the HSBC survey that you could also have a better quality of life in Switzerland.
Expats said in the HSBC survey that they are more likely to reach their career potential in China than they are in their home country. A report by recruitment platform Zhaopin.com found that, as three of the largest cities in China, Beijing, Shanghai, and Shenzhen have the highest average salaries.
4. Hong Kong
The HSBC Expat Survey found that a move to Hong Kong resulted in a 41% increase in income for 18 to 35-year olds. A higher-paying salary in Hong Kong will certainly come in handy in Hong Kong, as the city has been ranked as the most expensive in the world in Mercer’s 2019 annual Cost of Living Survey.
In the HSBC Expat Survey Bahrain was ranked in 4th position for highest income and 5th for disposable income. Bahrain topped the HSBC ranking for career potential and work-life balance – work hard, play hard!
Singapore was found to be the third most-expensive city in the world in the 2019 Mercer Cost of Living Survey. However, having more money to spend can help with this, as the Business Times reported that 65% of expats have more disposable income upon relocating to Singapore. Singapore was crowned the best country for expats for two consecutive years. You can check out our blog on the top reasons to move to Singapore.
Vietnam is one of the cheapest countries to live. As its two major cities, Hanoi and Ho Chi Minh City ranked amongst the least expensive cities in Mercer’s 2019 Cost of Living Survey. Therefore, your salary at the end of the month is likely to go a lot further. Hoi An was awarded with the Best City in World title at the 2019 Travel & Leisure World’s Best Awards.
8. Saudi Arabia
In the HSBC Expat Survey, Saudi Arabia was among the top three countries with the highest income, but ranked lower for disposable income because of expensive living costs. Saudi Arabia’s capital city Riyadh was reported to be one of the most expensive cities in Mercer’s 2019 Cost of Living Survey.
In the HSBC Expat Survey Canada was ranked in the top 10 countries for disposable income and financial stability. Canada’s main cities ranked amongst the least expensive countries in Mercer’s 2019 Cost of Living Survey, including Vancouver, Toronto, Montreal, and Ottawa. Check out our blog on the top reasons to move to Canada!
10. United States
As the USA is huge, the income can vary across different states. You are likely to earn more in big cities like New York, San Francisco and Los Angeles. Considering a move to America? Check out our blog covering the best cities to move to.
If you are looking to save money when moving to any of these countries, our door to door luggage shipping service is an affordable option that is also fast and efficient.
Spain has been named as the best place to study abroad in Europe and 2nd in the world’s top 10 places to study abroad. There are so many reasons to study abroad in Spain, including the fact that the country is home to some of the top universities in Europe, which we have put together in this blog.