City's expats fourth for earning power

PUBLISHED : Friday, 26 June, 2009, 12:00am
UPDATED : Friday, 26 June, 2009, 12:00am


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Hong Kong ranks fourth in the world when it comes to the wealth of its expatriates, with 39 per cent earning more than US$200,000 a year, a survey has found.

The Expat Explorer survey, commissioned by HSBC, questioned 3,100 expatriates in 26 countries and regions between February and April.

Russia was found to be home to the wealthiest expats, with 43 per cent earning more than US$200,000 a year and 30 per cent earning more than US$250,000.

Qatar and Saudi Arabia ranked second and third, while the mainland was in 11th place.

Among Hong Kong expatriates, 27 per cent earned more than US$250,000, the survey found.

Eighty-nine per cent of expats in the city said they had more disposable income than they did in their home countries, with nearly half reporting more than US$4,000 a month.

But Hong Kong expatriates spent more on accommodation, food and entertainment than they did at home.

The survey concluded that Asia was home to the world's highest-paid expatriates, while the poorest were found in Australia and western Europe.