Global survey: Best places for millennials to jump-start their careers abroad are Hong Kong, Singapore, and the UK

 ** Find the best destinations abroad based on your career priorities: www.expatexplorer.hsbc.com/survey/careers **

VANCOUVER, Jan. 3, 2017 /CNW/ - While Switzerland remains the best all-round destination for pursuing a career abroad, Hong Kong ranks number one for those looking to fast-track their career; this, according to new data released from HSBC's latest global Expat Explorer survey of 26,871 expats from over 100 countries.

Part of the world`s largest and longest-running research series on expat life, the Expat Explorer Careers Table ranking is based on eight criteria: the chance to acquire new skills, career progression, job security, earnings, benefits packages, work-life balance, work culture and fulfilment at work. View the full report at www.hsbc.ca/expat

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

Larry Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank Canada said: "The start of the new year is a very good time for current and prospective expats alike to reflect on what they have achieved and plan the next steps in their international careers. What's clear from the survey, is that working abroad offers a wealth of opportunities to suit many different career needs and personal priorities."

Best Place for Expats to…

  1. Progress your career: Hong Kong. When it comes to career development, the majority of expats in Hong Kong (68%), Singapore (62%) and the UK (62%) agree it is a good place for expats to progress their career, compared to 51% in Canada and above the global average of 43%.  
  2. Make money: Switzerland. The average annual expat income in Switzerland is USD188,275, almost twice the global average of USD97,419. In comparison, the average expat in Canada earns USD84,280.
  3. Find work/life balance: Norway.  At 87% of those surveyed, expats in Norway are the most likely across all markets to see an improvement in their work/life balance as well as a better work culture than in their home country.  In comparison, 60% of expats living in Canada see an improvement in their work/life balance.
  4. Build new skills: United Kingdom (UK).  The UK has jumped nine places (18th in 2015), with expats there among the most likely in the world to pick up new skills compared to their home country (64%) and progress their career (62%), compared to 54% and 51%, respectively, of expats in Canada.
  5. Achieve overall success: Switzerland. For the second year in a row, Switzerland is ranked the best all-round destination for a career abroad. In addition to being a top spot for earnings, 69% of expats in Switzerland see an improvement in their work-life balance and 61% say the work culture is better than in their home country. In comparison, Canada fell one spot to 16th place overall compared to the previous year.

Millenials (18-34) Vs. Generation X (35-55):

Younger expats are the most likely of all age groups to move abroad in search of greater fulfilment and purpose at work, and many succeed in finding it. More than one in five (22%) of expat millennials say they moved abroad to find purpose in their career, compared to 14% of Gen X expats.

Millennial expats also have high ambitions for their careers, with 37% saying they embraced expat life to improve their job prospects, compared with 25% of Gen X expats. Expat millennials are also more likely than older generations to have moved abroad in search of a new challenge. 43% of expat millennials say they were motivated by finding a new challenge, compared with 38% of those aged 35-54 and 30% of expats aged 55 and over.

Added Tomei: "Some expats are looking for an accelerated route to the top of the career ladder, some want to put themselves on a firmer financial footing, while others want to improve their work-life balance. There is an ideal destination to achieve one or more of these goals; and the Expat Careers tool is there to help them find it."

Considering the Expat life? Find your ideal destination:

For those who wonder where they could be making the most of their potential, HSBC's Expat Careers Tool can help them find the best place to meet their career ambitions: www.expatexplorer.hsbc.com/survey/careers:

Notes to editors:

  1. About the Expat Explorer survey
    The Expat Explorer survey is commissioned by HSBC Expat and conducted by YouGov. It is the largest and one of the longest running global surveys of expats, with respondents sharing their views on different aspects of life abroad, including careers, economics, experience and family. An expatriate is defined as anyone over 18 years old, currently living away from their country of origin/home country. The 2016 Expat Explorer survey was completed by 26,871 expats from over 100 countries through an online questionnaire in March, April and May 2016. The careers league table scores and rankings are based on eight criteria: the chance to acquire new skills, career progression, job security, earnings, benefits packages, work-life balance, work culture and fulfilment at work. HSBC's Expat Careers tool matches the user's career priorities with the scores and rankings of the 45 countries included in the careers league table. The survey was conducted before the UK referendum vote to leave the European Union on June 24th 2016.
  2. About HSBC Expat
    HSBC Expat is a trading name of HSBC Bank International Limited. HSBC Expat is an award-winning provider of financial services for expats, with its head office in Jersey, Channel Islands. It also has representation in Dubai and Hong Kong. As part of HSBC Holdings plc, HSBC Expat provides tailored financial solutions to people living and working abroad. For more information visit www.expat.hsbc.com.
  3. About HSBC Bank Canada
    HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country.  We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Retail Banking and Wealth Management.
    HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 4,400 offices in 71 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,557bn at 30 September 2016, HSBC is one of the world's largest banking and financial services organisations.
    For more information visit www.hsbc.ca or follow us on Twitter @HSBC_CA

 

SOURCE HSBC Bank Canada

For further information: Media contacts: Aurora Bonin, (604) 641-1905, aurora.f.bonin@hsbc.ca; Sharon Wilks, (416) 868-3878, sharon_wilks@hsbc.ca

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