Expats living in India are the third-highest paid in the world, according to a survey from HSBC.
The average salary of foreigners living in India was $145,057, the poll of almost 27,000 expats in 100 countries showed. Highest paid were foreign workers in Switzerland who got an average salary of $188,275, followed by Hong Kong at $169,756.
Like Switzerland and Hong Kong, India has a financial hub in Mumbai. The survey showed that India has the highest proportion of expats on international secondment or assignment.
Respondents said they thought India was a good place to progress their career, start a business or achieve long-term financial goals.
HSBC said almost 89% of expats in India receive at least one financial benefit from their employer for living in India, prompting 38% to say they were able to save for their children’s education, and 44% saying they were making progress to toward long-term savings and investments.
India attracts more expat entrepreneurs than the rest of Asia Pacific. Of expats in India, 11% had moved to set up a business compared with an average of 5% across Asia Pacific.
Nearly two-thirds, or 64%, of expats living in India said they had confidence in the country and just over half–53%–said they had confidence in the political system.
Despite the large pay packets in Asia, Europe was home to some of the best destinations for a successful expat career, said Dean Blackburn, Head of HSBC Expat.
He said six European countries made it into the top 10 of the bank’s wider ranking that included scores for economics, experience and family. The survey showed Singapore came top for that, followed by New Zealand and Canada. On that ranking, India came 26th, scoring particularly low for “experience,” the measurement for lifestyle and ease of setting up there. The U.S., meanwhile ranked 30th.
But he said where expats decided to live depended on their goals. “Some expats are looking for an accelerated route to the top of the career ladder, some want to put themselves on a firmer financial footing, while others want to improve their work-life balance,” Mr. Blackburn said.
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