Expats Show Growing Preference for China

Expat Globe

After decades in the shadows the prevailing wisdom has it that the coming 100 years will be a Chinese century. The return to dominance of the Chinese civilisation has long been expected and now there are increasing signs that expats are turning their attention to the Asian behemoth.

Many commentators and analysts have noted the flow of offshore wealth from the Middle East to Asian locations with Singapore in particular becoming a major draw for offshore capital and wealth.

China is now becoming a key destination for European expats looking to take advantage of an economy that is booming while other, more established economies in the developed world stagnate.

Interestingly there are signs that it is not solely the prospect of obtaining wealth that is leading people to move to China with nearly half of respondents to HSBC’s Expat Explorer survey suggesting that a superior quality of life is also on offer.

HSBC also reports that, “half (49%) of expats heading to China do so expecting to earn more money upon relocation, and few are disappointed. Two thirds (64%) of expats in China witnessed a marked improvement in the financial status of their household with a similar figure (69%) citing an increase in disposable income upon relocation. A third (29%) reported that their household income has increased by 50% or more since relocation.”