Australia is the best place in the world to live according to expatriates that participating in a recent quality of life survey.
HSBC’s Expat Explorer, which surveyed 3,385 expatriates who are currently living in over 100 countries, found that Australia was extremely popular with expats; despite the relatively low earning potential the country offers.
It found 10 per cent of expats chose Australia as the top destination for their next assignment, followed by the US, Singapore, Hong Kong and Canada. Of those expatriates currently living in Australia, 71% revealed that they had chosen to live in Australia because it offered them a higher quality of life. Those living in the country benefit from an outdoor lifestyle, a friendly living environment and a good work/life balance.
Meanwhile, just 54% of those surveyed chose the United States and 55% chose the United Kingdom because those locations offered greater financial opportunities than their home countries.
“While financial rewards and career prospects are obviously important, the report suggests expats are putting lifestyle and well-being ahead of money and Australia wins hands down on this front,” commented Graham Heunis, head of retail banking and wealth management for HSBC, Australia.
Australian expatriates living overseas revealed that they chose to leave Australia in order to enjoy financial rewards and to benefit from a more global outlook. However, they confirmed that this often does come at the expense of their lifestyle and personal wellbeing. Australians living abroad also said that they found managing their work/life balance difficult and that they were also less active since relocating from Australia.
The report showed expats in Australia are twice as likely to stay or return to Australia in future than average.