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HSBC Bank International Expat Explorer Survey 2009
18 | HSBC Survey
Report one: Expat Economics
The Expat Explorer survey
Commissioned by HSBC Bank International, Expat Explorer is the largest ever global survey of expats.
Now in its second year, the survey has questioned more than 3,100 expats who described the opportunities
and challenges they face living away from home. The survey provides an insight into how expat life differs
HSBC Bank International
from country to country, continent to continent.
2009 - Bigger and better than 2008:
Nearly 1000 more expats shared their experiences
29 industries represented
12 new countries featured
Expat Economics
Expat Explorer Surv
( [ S D W ( F R Q R P L F V L V W K H � U V W R I W K U H H U H S R U W V W R E H S U R G X F H G I U R P
e
W K H ( [ S D W ( [ S O R U H U U H V H D U F K , W H [ D P L Q H V
W K H � Q D Q F L D O F L U F X P V W D Q F H V R I H [ S D W V D Q G F R P S D U H V W K H H [ S H U L H Q F H V R I S H R S O H O L Y L Q J L Q G L I
y 09
I H U H Q W F R X Q W U L H V
The report reveals how expat life has been affected by the global economic downturn and the change in
people’s spending and saving habits. It found that the downturn has meant that some people are even
considering giving up their expat status and returning to their country of origin.
Quality of life in the Expat Economic report is determined by four factors:
Annual income
Disposable income
Report one: Expat Economics
Ability to save
Possession of luxury items
Overall League table
The Expat Explorer survey As well as command-
Commissioned by HSBC Bank International, ing high salaries, expats
Expat Explorer is the largest ever global survey of in Asia further reces-
expats. Now in its second year, the survey has sion-proof themselves
questioned more than 3,100 expats who by scaling back on the
described the opportunities and challenges they luxuries. Expats in Japan
face living away from home. The survey provides (ranking first, 54%),
an insight into how expat life differs from coun- Thailand (second, 51%)
try to country, continent to continent. and Hong Kong (third,
circle6
2009 - Bigger and better than 2008: 49%) scale down their
Nearly 1000 more expats shared their spending on luxury
items, such as holidays
circle6
circle6
experiences
29 industries represented and leisure activities.
12 new countries featured Asian countries are
among the cheapest for
Expat Economics accommodation, with expats in Malaysia, China Bahrain and South Africa (68 % and 73% of
Expat Economics is the first of three reports to and India finding accommodation much cheaper expats in these countries chose to put their
3
be produced from the Expat Explorer research. It than they did living in their countries of origin money in bricks and mortar), while 68% of
examines the financial circumstances of expats (50%, 49% and 43% respectively allocating much expats in Japan chose managed funds. The col-
and compares the experiences of people living in less of their income towards accommodation, lapse of global markets has left investors in Asia
different countries. compared with 26% among expats globally).
HSBC Bank International Expat Explorer Survey 2009
undeterred, however, with shares still proving
The report reveals how expat life has been popular for expats in Hong Kong, Japan and
affected by the global economic downturn and People save more when thePeople save more when they become expats y Malaysia.
the change in people’s spending and saving become expats
Many expats are able to take advantage of their move to another
Expats originating from Germany and Brazil
habits. It found that the downturn has meant Many expats are able to take a
country in order to increase the amount of money they save.
dvantage of their are the most reluctant to invest in property, just
that some people are even considering giving up move to another country in o
Over two-thirds (68%) of expats reported that they are saving
“Expats in the Middle East
and investing more since they moved away from their home
rder to increase the 21% and 22% put their mo
are
ne
strong
y here,
savers
com
pared
their expat status and returning to their country amount of money they save.
F R X Q W U \ � W K L V � J X U H U L V H V W R Z K H Q O R R N L Q J D W W K H K L J K H V W S
Over two-thirds with 46% global ave
D L G
rage.
compared with those in more
expats. Only 14% of expats said that they are saving less than
developed markets”
of origin. (68%) of expats reported that thewhen they were resident in their countries of origin. y are saving and
Quality of life in the Expat Economic report is investing more since they mo
Expats in Saudi
ved away fr
Arabia, Russia and Qatar manage to save more now since moving away from their
om their The credit crunch has changed
d
circle6
etermined by four factors: home country – this figure rcountry of origin than expats in any other country (90%, 97% and 98% respectively).ises to 80% when expat life
circle6
Annual income looking at the highest-paid e
Aside from the usual bank accounts, popular methods for saving and investing money among expats
xpats. Only 14% of When asked if the credit crunch had changed
circle6
Disposable income expats said that they are saving less than w
include, shares, property and managed funds. Property was a popular option in Bahrain and South
hen their attitude to spending, 63% of expats world
Africa
circle6
Ability to save they were resident in their count
(68 % and 73% of expats in these countries chose to put their money in bricks and mortar), while 68%
-
of expats in Japan chose managed funds.
ries of origin. wide said y
The collapse of global markets has left investors in
es. The most affected expats ar
Asia
e based
Possession of luxury items Expats in Saudi Arabia, R
undeterred, however
ussia and Qatar
, with shares still proving popular for expats in Hong Kong, Japan and Malaysia.
in Russia, US and Japan (73%, 74% and 76% of
manage to save more now siExpats originating from Germany and Brazil are the most reluctant to invest in propertynce moving away expats from these countries respectiv, just 21% and 22% ely said the
Expat Findings from theircountry of
put their money here, compared with 46% global average.
Wealth is moving East origin than expats in
Asia is home to among the highest paid expats in any other country (90%, Ho
How do expats invest their money?
w do expats invest their money?
the world; while their poorer counterparts can be 97% and 98% respec-
found in Australia and Western Europe. tively).
The highest proportion of expats earning Aside from the usual
more than US$250,000 are in Russia (30%), fol- bank accounts, popular
lowed by Hong Kong (27%), Japan (26%), methods for saving and
Switzerland (25%) and India (25%) compared investing money among
with a global average of 16%. The lowest-paid expats include, shares,
expats live in Australia and Belgium, with the property and managed
majority (63% and 61% versus 35% overall) of funds. Property was a
expats earning under US$100,000. popular option in
The credit crunch has changed expat life
July/August 2009 Investment International
www.investmentinternational.com
When asked if the credit crunch had changed their attitude to
spending, 63% of expats worldwide said yes. The most affected
expats are based in Russia, US and Japan (73%, 74% and 76%
“Feeling the pinch, 44%
of expats from these countries respectively said the credit crunch
of expats in the UK and
has changed their attitudes to spending and saving). Surprisingly,
23% of expats in the US
almost three-quarters (72%) of expats based in Thailand also
are considering returning
reported that global recession has had an impact on what they
home, compared with only
spend despite reporting that Thailand is one of the cheapest
15% if expats overall”
places to live compared with other locations around the world.
Conversely, two-thirds (63%) of expats living in Qatar said the credit crunch would not change their
attitudes at all. Expats living in Bahrain were also unwilling to let the latest economic doom and gloom
affect their lives (55% said that their attitude to spending would not change) – indicating that, according to
this research, the Middle East has not been hit as hard by the credit crunch as other regions. When asked
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