Vietnam, Thailand among popular destinations for expats
Countries in ASEAN like Vietnam and Thailand are becoming popular destinations for expats due to lower costs and a higher standard of living, according to a new research.
In the 2014 Expat Explore survey conducted by Hong Kong-Shanghai Banking Corporation (HSBC), many expats pointed out that Vietnam and Thailand could be very cost effective for them and about two thirds of the expats said they have a higher quality of life from their own countries.
Some 72% of those living in Thailand and 75 percent in Vietnam said they have higher levels of disposable income, with 69% and 64% respectively said their chosen host country is a culturally interesting place to live, according the survey.
It also said expats in Thailand and Vietnam are among those who travel more. For example, 79 percent in Vietnam and 68 percent in Thailand said they are travelling, which are significantly higher than the global average of 58 percent.
Asia is also the place to be higher earning for expats in 2014 as they are looking for new opportunities. Expat individuals in Asia are the most likely to earn over a quarter of a million dollars, with 14% earning over US$250,000 a year compared to only 5 percent in Europe.
The survey findings revealed that these higher earning expats are quick to capitalise on new opportunities and are flocking to the Asian region.