Best places for millennials to jump-start careers abroad are Hong Kong, Singapore, U.K.: Survey

Switzerland remains best all-round destination
|hrreporter.com|Last Updated: 01/05/2017
REUTERS/Bobby Yip/File Photo

While Switzerlandremains the best all-round destination for pursuing a career abroad, HongKong ranks number one for those looking to fast-track their career,according to a survey of 26,871 expats from over 100 countries released byHSBC.

The Expat Explorer Careers Table rankingis based on eight criteria: the chance to acquire new skills, careerprogression, job security, earnings, benefits packages, work-life balance, workculture and fulfilment at work.

Expat Explorer Careers Table

Top 10 places for a successful expat
career overall
 

2016 Rank

2015 Rank

Switzerland

1

1

Germany

2

3

Sweden

3

2

UAE 

4

6

Norway

5

-

Singapore

6

5

Austria

7

-

Hong Kong

8

8

United Kingdom

9

18

Bahrain

10

7

Canada

16

15

Best place for expatsto:

Progress their career: HongKong. When it comes tocareer development, the majority of expats in Hong Kong (68 per cent), Singapore (62per cent) and the United Kingdom (62 per cent) agree it is a good place forexpats to progress their career, compared to 51 per cent in Canada andabove the global average of 43 per cent.  

Make money: Switzerland. The average annual expat income in Switzerland is US$188,275, almosttwice the global average of US$97,419. In comparison, the average expat in Canada earns US$84,280.

Find work-lifebalance: Norway.  At 87 per cent of those surveyed, expats in Norway arethe most likely across all markets to see an improvement in their work-life balanceas well as a better work culture than in their home country.  Incomparison, 60 per cent of expats living in Canada see an improvementin their work-life balance.

Build new skills: TheU.K.  The U.K. has jumpednine places (18th in 2015), with expats there among themost likely in the world to pick up new skills compared to their home country(64 per cent) and progress their career (62 per cent), compared to 54 per centand 51 per cent, respectively, of expats in Canada.

Achieve overallsuccess: Switzerland. Forthe second year in a row, Switzerland is ranked the best all-rounddestination for a career abroad. In addition to being a top spot for earnings,69 per cent of expats in Switzerland see an improvement in theirwork-life balance and 61 per cent say the work culture is better than in theirhome country. In comparison, Canada fell one spot to 16th place overall compared to the previous year.

Millennials (18-34)versus generation X (35-55):

Younger expats are themost likely of all age groups to move abroad in search of greater fulfilmentand purpose at work, and many succeed in finding it, said HSBC. More than onein five (22 per cent) of expat millennials say they moved abroad to findpurpose in their career, compared to 14 per cent of gen X expats.

Millennial expats alsohave high ambitions for their careers, with 37 per cent saying they embracedexpat life to improve their job prospects, compared with 25 per cent of gen Xexpats, found the survey. Expat millennials are also more likely than oldergenerations to have moved abroad in search of a new challenge. Forty three percent of expat millennials say they were motivated by finding a new challenge,compared with 38 per cent of those aged 35-54 and 30 per cent of expats aged 55and over.

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