HSBC: Expats find it easy to relocate to Malaysia

PETALING JAYA (Oct 4): Expatriates find it relatively easy to relocate to Malaysia, the new HSBC Expat Explorer report entitled “Achieving ambitions abroad” revealed.

Expat Explorer is an independent consumer research study into global expat views, commissioned by HSBC Expat.

In the ninth edition of this annual survey, nearly 27,000 expats from 190 countries and territories shared their thoughts and experiences of expat life.

According to the survey report, nearly two thirds (66%) of the respondents said finding accommodation is easy, well above the global average of 46%. 

For expats in Malaysia, the country also offers good work/life balance, friendly culture and low cost in raising a child. According to the report, about 78% of expats in Malaysia said their work/life balance is as good as or better than in their home countries, which is slightly more than the expat average across Asia Pacific at 72%, but considerably more than other emerging economies such as the Philippines, where only 59% of expats see their work/life balance staying the same or improved.

“This year’s findings suggest that whatever individuals are seeking in life, whether it is finding more fulfilment in career, immersing in a new culture, buying a property or getting access to better education for children, expat life can help reach that goal,” said HSBC Malaysia country head, retail banking and wealth management, Lim Eng Seong.

“As an emerging Asian economy, Malaysia offers expats a pleasant perspective in life as 64% of expats in Malaysia say they integrate well with the local people and culture, greater than the global average of 61%” added Lim.

The report noted that although expat incomes in Malaysia are in line with the global average, expats in the country are able to save and spend more than they could at home.

While on average expats in Malaysia earn US$104,000 (compared with the global average of US$97,000), 61% said they have more disposable income than at home, compared with 56% of expats globally. The majority (58%) of expats in Malaysia also say they are able to save more, compared with the global average of 53%,

Other findings include expats finding Malaysia a welcoming place to live, with 65% of expats finding it easy to form new friendships in the country, compared with 57% across Asia Pacific. Expats in Malaysia are also more likely to say they felt at home in the country within six months (40% compared with 32% of expats globally).

About more than a third (35%) of expats in Malaysia say the overall cost of raising children is less expensive than it was in their home country against the global average (19%) and the average across Asia Pacific (22%).

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