KUALA LUMPUR, Dec 6 — Malaysia
is the seventh best country in the world for expatriates in terms of living a
luxurious lifestyle, according to a recent survey by HSBC Bank.
The bank, which polled more
than 3,500 expatriates in 31 countries online, released its findings yesterday
and placed Thailand in the top spot, followed by Saudi Arabia, Singapore,
Egypt, Switzerland and Hong Kong in descending order.
Malaysia ranked just ahead of
the Philippines, which found a lower cost of living can lead to a more
luxurious lifestyle for expatriates in developing countries.
The report noted that although
expatriates in developing countries are less likely to splurge on luxury
holidays compared to the average expatriate abroad, they are more likely able
to afford hiring house help, owning property with swimming pools or owning more
than one property in living away from their country.
It said that expatriates were
able to afford a lavish lifestyle due to having more disposable income rather
than higher pay.
“Lower spending on essentials
like accommodation, public transport, food and childcare can account for the
extra level of disposable income,” the HSBC report said.
The extra spending money may
also have something to do with the city’s low rankings on other things that
excite expatriates, such as car and yacht ownership, according to a Wall Street
Journal report published today.
The HSBC survey noted too that
Singapore was listed the country of choice for expatriates because those
working there saw their disposable incomes jump after moving there and enjoyed
the republic’s efficient transportation network and quality education for their
children.
The HSBC survey said it could
not rate the expat-with-children experience for other Southeast Asian countries
due to insufficient country data on children’s safety, outdoor activities and
education.
Debra Chong
The Malaysian Insider
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