From today's Standard...
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From today's Standard...
Nice to see SOME expats are bringing home the benjamins.
Someday maybe I will too unless Air China comes in and cleans house...
Filthy rich expats live the high life
Thursday, August 20, 2009
Hong Kong expats are still living it up, with most able to splurge more than HK$30,000 a month, and they rank the wealthiest across Asia, according to an HSBC survey.
Thirty-nine percent of expatriates in Hong Kong earn more than US$200,000 (HK$1.56 million) a year, a bigger proportion than anywhere else in Asia. Twenty-seven percent earn above US$250,000 a year, compared with just 16 percent globally.
"Unsurprisingly, nine out of ten expats have not considered moving home, with their financial astuteness and ability to modify their lifestyle placing them as leaders amongst their peers," said Harvey Catlin, HSBC's regional branch manager for Hong Kong.
Hong Kong expats rank the wealthiest in Asia - beating out Singapore, which was ranked second, followed by Japan, India and Malaysia.
SAR expats rank the fourth wealthiest in the whole world, following those in Russia, Qatar and Saudi Arabia, and just ahead of the United Arab Emirates.
About 48 percent of expats in Hong Kong said their monthly disposable income is over US$4,000, one percent more than their Singaporean peers. Around 89 percent said they have a higher disposable income in Hong Kong than in their own country, compared with 76 percent in Singapore.
More than half said they allocate more money to entertainment while living in Hong Kong.
Andrea Williams, the Hong Kong managing director of recruitment firm Ambition, said workers on expat packages in the SAR typically get salaries that are 20 to 30 percent higher than their counterparts in Singapore. Housing allowances are also 20 to 30 percent higher in Hong Kong.
She said expats at the vice-president level get an average of HK$50,000 to HK$80,000 a month for housing, while those in more senior positions can get upwards of HK$150,000.
The value of all the benefits - such as housing, school fees, utility bills, maids and drivers - can easily add up to as much as a person's base salary.
"If somebody had a base salary of HK$1.5 million a year, it wouldn't be strange for their benefits to add up to close to that amount," she said.
Senior executives at multinational corporations can also get year-end bonuses equal to their yearly base salary.
Someday maybe I will too unless Air China comes in and cleans house...
Filthy rich expats live the high life
Thursday, August 20, 2009
Hong Kong expats are still living it up, with most able to splurge more than HK$30,000 a month, and they rank the wealthiest across Asia, according to an HSBC survey.
Thirty-nine percent of expatriates in Hong Kong earn more than US$200,000 (HK$1.56 million) a year, a bigger proportion than anywhere else in Asia. Twenty-seven percent earn above US$250,000 a year, compared with just 16 percent globally.
"Unsurprisingly, nine out of ten expats have not considered moving home, with their financial astuteness and ability to modify their lifestyle placing them as leaders amongst their peers," said Harvey Catlin, HSBC's regional branch manager for Hong Kong.
Hong Kong expats rank the wealthiest in Asia - beating out Singapore, which was ranked second, followed by Japan, India and Malaysia.
SAR expats rank the fourth wealthiest in the whole world, following those in Russia, Qatar and Saudi Arabia, and just ahead of the United Arab Emirates.
About 48 percent of expats in Hong Kong said their monthly disposable income is over US$4,000, one percent more than their Singaporean peers. Around 89 percent said they have a higher disposable income in Hong Kong than in their own country, compared with 76 percent in Singapore.
More than half said they allocate more money to entertainment while living in Hong Kong.
Andrea Williams, the Hong Kong managing director of recruitment firm Ambition, said workers on expat packages in the SAR typically get salaries that are 20 to 30 percent higher than their counterparts in Singapore. Housing allowances are also 20 to 30 percent higher in Hong Kong.
She said expats at the vice-president level get an average of HK$50,000 to HK$80,000 a month for housing, while those in more senior positions can get upwards of HK$150,000.
The value of all the benefits - such as housing, school fees, utility bills, maids and drivers - can easily add up to as much as a person's base salary.
"If somebody had a base salary of HK$1.5 million a year, it wouldn't be strange for their benefits to add up to close to that amount," she said.
Senior executives at multinational corporations can also get year-end bonuses equal to their yearly base salary.
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Clean house? Naaahhh - shirley not! CX will be able to add another reason for screwing us to their repetoire. Our new Chinese masters will join the list of such things as financial downturns/tsunami's, bird/piglet flu, fuel prices, yields, currencies, mark to market losses ets etc.
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Pilots are middle class expatriates.
Ever seen how the other half are living ? Been to the Hong Kong Club ? Aberdeen Marina Club ? etc etc.
Funny thing is there are just as many, if not more, wealthy locals drinking vintage champagne in these establishments.
More racist clap-trap from a press owned and manipulated by Hong Kong Inc.
Ever seen how the other half are living ? Been to the Hong Kong Club ? Aberdeen Marina Club ? etc etc.
Funny thing is there are just as many, if not more, wealthy locals drinking vintage champagne in these establishments.
More racist clap-trap from a press owned and manipulated by Hong Kong Inc.
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Peanuts Billy, peanuts.
The real expatriate wealth in Hong Kong throws away 5500 USD on lunch, a round of golf or an escort they didn't drag out of a flea infested bar.
Keep your chin up worker bee.
The real expatriate wealth in Hong Kong throws away 5500 USD on lunch, a round of golf or an escort they didn't drag out of a flea infested bar.
Keep your chin up worker bee.
