This comes with an average salary of nearly US$87,000.
Expats in Hong Kong enjoyed larger pay packages in 2018 as companies need to shell out an average of US$276,417 with an average cash salary of US$86,984 to relocate their staff to the pricey city in 2018, according to an annual report from ECA International. The latest reading ranks expat pay packages in Hong Kong as the fourth costliest in Asia, trailing behind Japan (US$386,451), China (US$310,2014) and India.
The overall expat pay package in Hong Kong has grown by US$7,902 since 2018 to reverse the slight drop in average expat salaries in 2017, Lee Quane, Regional Director – Asia at ECA International said in a statement.
"Salaries rose slightly by an average of just over US$1,500 whilst benefits, including extras on top of the basic salary such as school fees or transportation costs, increased by over US$6,000. The benefits offered as part of an expat’s pay package have always been high in Hong Kong," said Quane. "This high demand results in expat-level accommodation, international schooling and other costs being significantly more expensive than most other locations.”
Close regional competitor Singapore saw average expat salaries rose by an average of US$4,874 and average pay pacakge to US$236,258. However, sending expats to Singapore is still cheaper than sending them to Hong Kong as the Lion City ranks ninth place in the Asia rankings, ahead of Vietnam.
On the global leaderboard, the UK offers the most expensive expat pay package in the world due to major increases in benefits and personal tax rates. Middle Eastern nations like Saudi Arabia and UAE also offers competitive salaries for expats at US$96,390 and US$93,889 respectively.
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