As per a survey conducted by HSBC Bank International Ltd, Mumbai has topped the global rankings for expat salaries. The city that is India’s financial, commercial and entertainment capital is not just the only Indian city but it’s also at the top rank in terms of revenues earned by the expatriates.
With average annual earnings of USD 217,165, the expat salary in Mumbai is more than double the global expat average worth USD 99,903, as revealed by the HSBC Expat Survey. Other Asian cities on the list of top 10 expat salary ranking include Shanghai, Jakarta, and Hong Kong.
Although the Asian cities have been found to offer enough salary to the expatriates, the continent is far behind when it comes to the job opportunities. Talking about Mumbai, a home to more than 18 million people, the city is nowhere in competition with cities of US and UK.
As per the data, destinations like San Francisco London, New York, and Birmingham have surfaced as top 5 places with a high scope of job opportunities. Also, Dublin, a tech center in Europe, has also found its spot in job opportunities despite losing out in terms of average expat salaries. Notably, 61% expats in the capital of the Republic of Ireland reported an improved work-life balance.
Coming back to the expat salaries, two cities of Switzerland have gained a place among the top 5. Besides, Zurich and Geneva reported the third and fifth highest expat salaries.
Furthermore, the expats in Zurich reported that they are living in a better space than they did at their home despite the city’s expensive rental and property markets. Similarly, the expats in Berlin and Prague said that the cost of living is affordable even though the cities were at the bottom of the list.