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Expensive Asian cities worth the price for ambitious expats
| Published: | 22 May at 6 PM |
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The world’s most expensive cities for expats are still regarded as dream destinations by ambitious professionals.
Asia is the latest Shangri-la for international companies looking to expand their influence even further, although the average cost of living in the most favourable destinations is continuing to rise. Being posted to one of the planet’s most expensive cities can be a challenge, even with a generous expat package, but determined professionals are still grabbing the chance to live like kings at the same time as advancing their careers.
Regular surveys announce the changes in the world’s priciest locations, with popular Asian cities topping the lists time after time. One representative of a well-known consultancy cites the region’s growth potential and its access to developing Southeast Asia and China as the reason why international companies are keen to relocate top talent to Hong Kong, Singapore and Tokyo.
The recent Mercers survey saw Hong Kong topping the list of expensive locations for expat professionals, even although a slew of online articles immediately suggested it’s not compulsory to spend a fortune in order to live and work there. In the survey, Singapore hit in as the fourth most expensive world city for relocations and is especially popular for investors looking towards Southeast Asian countries.
For would-be expats, it’s tempting to be catapulted into the hi-so lifestyle, but many find it all too easy to get drawn into a scene that’s unaffordable even with their salaries and packages. According to one expat financial adviser, her clients are often expatriate professionals who’ve lived beyond their means because they’ve fallen for the hype of huge homes, designer clothes and expensive eating and drinking habits. Major Asian cities are seductive and glamorous in many aspects, and it’s all too easy to get sucked in.
Asia is the latest Shangri-la for international companies looking to expand their influence even further, although the average cost of living in the most favourable destinations is continuing to rise. Being posted to one of the planet’s most expensive cities can be a challenge, even with a generous expat package, but determined professionals are still grabbing the chance to live like kings at the same time as advancing their careers.
Regular surveys announce the changes in the world’s priciest locations, with popular Asian cities topping the lists time after time. One representative of a well-known consultancy cites the region’s growth potential and its access to developing Southeast Asia and China as the reason why international companies are keen to relocate top talent to Hong Kong, Singapore and Tokyo.
The recent Mercers survey saw Hong Kong topping the list of expensive locations for expat professionals, even although a slew of online articles immediately suggested it’s not compulsory to spend a fortune in order to live and work there. In the survey, Singapore hit in as the fourth most expensive world city for relocations and is especially popular for investors looking towards Southeast Asian countries.
For would-be expats, it’s tempting to be catapulted into the hi-so lifestyle, but many find it all too easy to get drawn into a scene that’s unaffordable even with their salaries and packages. According to one expat financial adviser, her clients are often expatriate professionals who’ve lived beyond their means because they’ve fallen for the hype of huge homes, designer clothes and expensive eating and drinking habits. Major Asian cities are seductive and glamorous in many aspects, and it’s all too easy to get sucked in.
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