Aussies expats out-earning their peers

cent

23 October 2012
| By Staff |
image
image
expand image

Australians working overseas are enjoying higher wages than their global peers, according to research by HSBC.

The HSBC Expat Explorer research, which surveyed 5,339 expatriates from nearly 100 countries worldwide, found 38 per cent of Australian expats were in the highest income bracket (ie, over US$100,000) - which is higher than the global average of 25 per cent.

However, only half of Australians move abroad because they expect more money (compared to the global average of 56 per cent).

Ninety-one per cent of Australians reported they wanted to experience the host country's culture, and 61 per cent thought their host country would be a more interesting place to live, according to the research.

HSBC Australia head of retail banking and wealth management Graham Heunis said the rising middle class in Asia (set to hit 1.7 billion people by 2020) will see the goods and services required in the region to expand rapidly.

"If Australians are to capture this commercial opportunity, they will first need to understand the market and business culture," Heunis said.

"Clearly, Australia's future is tied to Asia and as we work towards further integration in the region, I expect to see the number of Australians heading to Asia increase," he added.

Despite earning higher salaries than the global average, 21 per cent of Australian expats said their financial position had worsened since moving abroad (compared to the global average of 11 per cent).

According to Heunis, the poorer position "most likely reflects the currently strong Aussie dollar negatively impacting the value of their salaries if repatriated back to Australia in the current conditions."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

3 days 21 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 week 1 day ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 6 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

3 weeks 1 day ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

1 week ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

6 days 4 hours ago