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U.S. Among World's Most Attractive Long-Term Expat Destinations, HSBC Survey Finds
30 October 2013
New York, NY - Despite on-going political and economic volatility, expats still find the U.S. an attractive place to live for the long-term. Four out of five (80%) intend to stay compared to the global average of 62%, according to HSBC's 2013 Expat Explorer annual survey of more than 7,000 expats in nearly 100 countries around the world, one the largest international studies of its kind.
The survey shows that expats in America appear to have a particularly strong affinity for their new home and are among the least likely to relocate. Many expats living in the U.S. are 'expat lifers,' meaning that they moved before the year 2000: 67% compared with 39% globally. Other top destinations boasting large numbers of expat lifers include Canada (79%) and Australia (61%).
Expat Explorer survey rankings give consideration to such factors as economics, raising children abroad and the overall expat experience. Five Asian destinations top the expat experience league table this year with Thailand coming in first1. Switzerland, China and Qatar all appear in the top three rankings for economics2, while Germany is the leading destination for raising children3.
U.S. among top countries for later life provision:
In terms of earning potential, levels of disposable in income and satisfaction with the economic outlook, the U.S. this year ranks 23rd out of 37 countries. However, when it comes to long-term financial considerations such as saving and retirement planning, America is one of the most popular expat destinations, with three quarters making pension provisions locally (75%), along with Canada (86%) and Australia (80%).
Expat family life in the U.S. is augmented by quality healthcare and education systems, ranking 10th out of 37 countries for both. Homeownership additionally stands at almost twice the global average (40% compared to 24% globally). A high number of expats also report enjoying new luxuries upon relocation to the United States including owning a better car (51% compared to a global average of 33%). These benefits contribute to the country's rating of 12th among 24 countries for raising children. With regards to the overall expat experience, the United States ranks 23rd among 37 countries surveyed.
"This year's Expat Explorer survey results show that the United States continues to provide long term opportunities for expats to live a better life, especially when it comes to improving their financial prospects in retirement," said Andrew Ireland, Head of Premier & Wealth, HSBC Bank USA, N.A.
For the full global report and U.S. results, and to use the interactive tool to see how the U.S. compares to the rest of the world, visit www.expatexplorer.hsbc.com.
Notes to editors:
1 Top 10 destinations for Expat Experience
2 Top 10 destinations for Expat Economics
3 Top 10 destinations for Raising Children Abroad
About the Expat Explorer survey
The Expat Explorer survey, now in its sixth year, is commissioned by HSBC Expat and conducted by independent research company YouGov, who questioned 7,004 expats through an online survey. The survey ran from 29th April to the 11th June 2013, with expats from nearly 100 countries taking part.
About the Expat Explorer survey The Expat Explorer survey, now in its sixth year, is commissioned by HSBC Expat and conducted by independent research company YouGov, who questioned 7,004 expats through an online survey. The survey ran from 29th April to the 11th June 2013, with expats from nearly 100 countries taking part.
The full set of sub criteria measured for each of the individual league tables is available on the Expat Explorer Interactive tool: www.expatexplorer.hsbc.com.
HSBC Bank USA, N.A., with total assets of $183.9bn as of 31 March 2013 (US GAAP), serves 3 million customers through retail banking and wealth management, commercial banking, private banking, asset management, and global banking and markets segments. It operates more than 250 bank branches throughout the United States. There are over 165 in New York State as well as branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; Pennsylvania; Oregon; Virginia; and Washington State. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a member of the FDIC.
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
- Neil Brazil
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