VANCOUVER, 22 Oct. 2014 /CNW/ - Switzerland, Singapore and China may be the top destinations for some of the three million Canadians* estimated to be living abroad, but expatriate life in Canada is far from gloomy according to HSBC's latest Expat Explorer global survey.
The HSBC Expat Explorer report is based on one of the largest surveys of expatriates globally. This year, nearly 9,300 expats from around the world – including 496 currently living and working in Canada - shared their views on quality of life, financial well-being and the ease of raising a family abroad.
Survey highlights of expat life in Canada:
- Expats enjoy growing older in Canada. Three in 10 expats identified themselves as 'retired', making Canada home to the highest proportion of expat retirees in the world – and well above the global average of just over one in 10. In fact, 8 in 10 retired expats display significant confidence in Canada's economy by choosing to keep the majority of their retirement investments in Canada -- almost double the global average (41%).
- Canada's public education system is highly valued. Not only do expat parents feel that their children are safer and healthier in Canada, but eight in 10 are choosing to enroll their children in Canadian public schools – the highest proportion of any country surveyed, and more than double the global average (37%).
- The weather may be colder, but Canadians are warm and friendly. More than six in 10 expats say that they find it easy to make local friends, and just under half are socializing more with Canadians than with other expats – well above the global average (31%). In fact, nine in 10 expats say they feel a strong connection with the country, well above the global average (62%).
| 2014 HSBC
Expat Explorer Ranking:
Top 11 (of 34) |
| 1) Switzerland |
| 2) Singapore |
| 3) China |
| 4) Germany |
| 5) Bahrain |
| 6) New Zealand |
| 7) Thailand |
| 8) Taiwan |
| 9) India |
| 10) Hong Kong |
| 11) Canada |
Betty Miao, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank Canada said: "I know from personal experience that securing accommodation, arranging health care, and setting up financial services are challenging when moving to a new country, and our research shows that this is a universal experience for expats. It's also clear from our research that expat life can differ significantly from country to country, continent to continent, and so careful planning and research is vital to ensure a successful life abroad for you and your family."
Survey highlights of expat life abroad:
- Switzerland is the top locale, and not just for chocolate-lovers. Switzerland ranks first overall this year, with expats saying it offers a high-quality, well-balanced life. From a financial well-being perspective, Switzerland emerges as a destination to advance career prospects and receive a healthy salary, while also maintaining a good work / life balance. Many expats in Switzerland also comment on the country's high quality of air and pleasant surroundings, with three quarters agreeing that this is an improvement on their home country.
- If you're looking to increase your earning potential, Asia is the place to be. China is home to the largest proportion of high-earning expats in the world – nearly 4 in 10 expats surveyed earn over USD$200,000 and over three quarters (76%) have more disposable income than they did at home.
- If you like a hot economy and hot weather, then head to the Middle East. Nearly three-quarters of expats in the Middle East report that they are satisfied with their host country's current economic outlook – the highest of all regions in this year's survey.
The full 2014 HSBC Expat Explorer report– including the Canada country report – is available online: www.expatexplorer.hsbc.com
Notes to editors:
- *Source: http://travel.gc.ca/travelling/publications/living-abroad
- About the HSBC Expat Explorer survey and league table
The Expat Explorer survey was completed by 9,288 expats (496 in Canada) from over 100 countries through an online questionnaire, conducted by YouGov on behalf of HSBC Expat, in April and May 2014. A minimum sample of 100 expat respondents including at least 30 expat parents is required for a country to be included in the Expat Explorer league table. This year, 34 countries qualified for the league table. The Expat Explorer league table ranks each country using a score that summarizes expats' overall impression of the country. The Expat Explorer score is the average of the Expat Economics, Expat Experience and Raising Children Abroad scores, covering 43 different criteria from the survey. Countries are scored on a scale of zero to one(in increments of 0.1), with the highest score ranking first and the lowest ranking last. All scores have been rounded to two decimal points.
- About HSBC Expat
HSBC Expat is a trading name of HSBC Bank International Limited. HSBC Expat is an award winning provider of offshore financial services, with its head office based in Jersey, Channel Islands. It also has representation in Dubai and Hong Kong. As part of HSBC Holdings plc, HSBC Expat has the experience to offer customers living and working abroad, tailored offshore financial solutions. For more information visit: www.expat.hsbc.com.
- About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in Canada. The HSBC Group serves customers worldwide from over 6,200 offices in 74 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,754bn at 30 June 2014, HSBC is one of the world's largest banking and financial services organizations.
Image with caption: "Infographic: CAD highlights of the HSBC Global Expat Explorer Report. (CNW Group/HSBC Bank Canada)". Image available at: http://photos.newswire.ca/images/download/20141022_C3908_PHOTO_EN_6962.jpg
SOURCE: HSBC Bank Canada
Media enquiries: Fabrice de Dongo, Senior Media Relations Manager, HSBC Bank Canada, 416-868-8282; Aurora Bonin, Senior Media Relations Manager, HSBC Bank Canada, 604- 641-1905
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