Australian expats are leaving traditional destinations

Australian expats are leaving traditional destinations
Expat moving

 

 

The recently released HSBC Expat Explorer survey has highlighted the growing dissatisfaction that Australian expats have with the traditional destinations of the United Kingdom and Europe. Nearly half of the Australian respondents still resided in Europe or the UK but the level of dissatisfaction with their adopted country (51 per cent) was a lot higher than the global average (40 per cent).

Currently the focus of Australian expats is on Asia, with 24 per cent of the respondents residing in Asia, which a lot higher than the global average of 12 per cent. A further 10 per cent of Australian expats are looking to move to Asia from their current overseas posting. Even though China is one of Australia’s largest trading partners only 2% of Australian respondents to the survey resided there.

Although the reason for moving to Asia is not always financially motivated, with a lot of respondents quoting lifestyle  and cost of living being other reasons, Asia is providing more lucrative opportunities for Australian expats. In a surprising finding, one quarter of expats in Indonesia earn above US$250,000.

The four countries voted as the best all round countries for expats were:

  1. China
  2. Germany
  3. Singapore
  4. Cayman Islands

Australia was ranked as the fifth best all round country for an expat to move to.

Brett Evans is the Managing Director and a Financial Planner with Atlas Wealth Management which is the first financial services firm in Australia to specialise in providing financial advice to Australian expatriates. With over 20 years of experience in the finance and investments industry, Brett has worked for blue chip companies which include the Australian Stock Exchange (ASX), HSBC, Suncorp and Citi Smith Barney.

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