Mumbai has taken the top spot in a global ranking of expat salaries, according to a recent survey. Expats working in the Indian city typically bring home an annual salary of $217,165, more than twice the global average of $99,903, the HSBC Expat Explorer Survey 2017 says.
The survey results are based on feedback of 27,587 expats across the globe. Mumbai has been placed ahead of San Francisco, which is ranked as the second most lucrative city for expats. Foreigners working in the city draw an average salary of $207,227.
Other Asian cities that are a part of 2017 top 10 highest paying cities for expats are Shanghai, Jakarta and Hong Kong. They all feature alongside the traditionally high paying cities in the United States and Europe.
As per the survey, expats got average earnings of more than $100,000 in 31 cities.
Among the 21 cities that ranked below the global average, Edinburgh was at the bottom, with an average income of $56,250 a year.
While expats are well-compensated in Asian cities, there is a dearth of job opportunities when compared to London, San Francisco, New York, or even Birmingham, according to the HSBC report. The financial and technology hubs of the United States and the United Kingdom are the most attractive places for ambitious expats who are eager to push their career to the next level, Dean Blackburn, the head of HSBC Expat, said.
Switzerland, a nation that has previously topped country rankings for expat salaries, has two cities in the top five — Zurich and Geneva. Even though the living costs are high in these places, the country’s high salaries and low personal tax rates made 77 per cent of expats in Zurich say that their disposable income has increased. Over half of Zurich expats said that they are living in a better house than they did back in their home country despite the city’s notorious rental and property markets.
Berlin and Prague come towards the bottom of the rankings, even though expats in these cities say that the cost of living is affordable.
While Dublin ranked among the top five cities for expat job opportunities, it recorded expat salaries that were below the global average. However, 61 percent of expats in the Republic of Ireland’s capital reported an improved work-life balance.
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