World’s Best Countries for Expats
By Zul • Jul 27th, 2008 • Category: Editor's Pick •
Singapore has been named as the world’s best country to live and work for expatriates.
The finding was as reported in a study conducted by HSBC Bank International, a bank specializing in offering services to people living and working abroad.
United States and UAE (United Arab Emirates) both tied up in second place after Singapore, with Belgium and Hong Kong trailing in fourth and fifth respectively.
Workers in UAE are not subject to income tax levy and is one of the main factors that drove expats to award top marks to the country. Additionally, it also offers one of the most luxurious living.
Expats in Hong Kong, on the other hand can demand the highest salary, with almost 50% of the foreign workers there earn more than US$200,000 per year.
In the study, researchers from HSBC Bank International surveyed more than 2,000 expats working in overseas worldwide. A number of criteria has been determined in order to rank each country, which include duration of stay of the expats, salary offered, standard of living, expenditures, comfort and luxury, accommodation expenses and others.
United Kingdom, which is also considered a haven for expats, unfortunately was pushed down to number 14th, mainly due to the expensive cost of living in its capital, London. UBS ranked London as the world’s most expensive city in 2008 by Swiss-based UBS Bank, while Mercer Consulting listed it as the third most expensive city, behind Moscow and Tokyo.
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