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Expats earning big bucks
Foreigners looking for a lucrative posting in Australia are likely to be sadly disappointed, but the climate and the lifestyle may make up for it, according to new research released by HSBC.
The research found that while Australians living overseas were, on average, among the highest paid in the world with 20 per cent earning more than $320,000, foreign expatriates living in Australia were likely to be earning under $100,000.
As well, the survey found that while many Australian expatriates were considering returning home in the midst of the global financial crisis, foreign expatriates living in Australia were far more likely to want to stay.
Commenting on the research, HSBC Bank Australia’s head of personal financial services Graham Heunis said the survey had provided fascinating insights into how recent global economic events had affected the global diaspora.
“This year’s survey has revealed a clear trend of expat wealth moving to emerging markets,” he said. “Russia, Asia and the Middle East are now home to the highest paid expats, while the lowest paid can be found in the developed markets of Western Europe and Australia.”
According to the HSBC survey, the most remunerative place for Australian expatriates is Asia where around 25 per cent are earning more than $200,000 a year, while Russia, Japan and Qatar were also regarded as high-paying destinations.
AUTHOR
Mike Taylor
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