Expat Hong Kong News

Latest 10 news items tagged Hong Kong

20 Jan at 6 PM 2017

Vietnam rated as best low cost SE Asian country for expat professionals

Vietnam and its capital Hanoi are increasingly rated as not only the cheapest Southeast Asian destination for expats, but also as a great place to grow a new career. Although the relocation process itself isn’t exactly inexpensive, once you’ve arrived to start your new life you’ll find the cost of living is far cheaper than the vast majority of favoured expat destinations in the region. A recent survey charted living expenses as averaging some $700 a month, including rental, transport, food drink and the essential smartphone...
4 Jan at 6 PM 2017

Is Singapore worth the effort for expats

Due to its recent rating as the 16th most expensive world destinations for expat professionals, Singapore’s reputation as a hub for the good life may be at risk. When it comes down to choosing a country which delivers the perfect expat professional environment, earnings versus expenses are a prime consideration. Those on expatriate contracts are still being provided with car and housing allowances, enabling a comfortable lifestyle similar to that in their home countries. However, those on local terms may not be in this enviable...
3 Jan at 6 PM 2017

Survey shows UAE still tops for career minded expats

Expats determined to further their careers should still head for the UAE, according to the latest survey by HSBC. Regarded as the best expat destination for successful careers in Asia and the Middle East, the UAE is also the fourth best in the world for salaries, relocation benefits packages and overall lifestyle.UAE-based responders to the Expat Explorer survey numbered over 3,000, with the results showing the work environment had improved still more over the results of the 2015 study. The survey included a number of categories...
2 Jan at 6 PM 2017

LMIM ponzi scheme boss gets away with it in Oz civil court

Founder of LM Investment Management Peter Drake has walked free from an Australian federal court after being cleared of wrongdoing. Charges against Drake were brought by Australia’s Securities and Investments Commission after the April 2013 collapse of what has been described as an ‘elaborate Ponzi scheme’ by advisors to the 1,200 investors robbed of a total of $800 million. The investments are reputed to have been touted across the expat world by commission-hungry independent financial advisors, the majority of whom were working...
15 Dec at 6 PM 2016

UAE expat investors to benefit from ban on upfront commissions

Expats working in the UAE are expected to benefit from the emirates’ insurance regulator’s decision to ban up-front indemnity commissions taken by financial advisors working within the expat sector. The regulator’s decision was taken in order to align the industry with jurisdictions such as the UK and Hong Kong, whose regulations have been changing over the past several years to facilitate the phasing out of upfront commissions. The moves are understood to be the result of a huge number of reported financial mis-selling and...
7 Dec at 6 PM 2016

Expat families hit by more increases in tuition fees

The increasing financial burden of international standard education for the children of expats is now a major problem. As the world economy stutters and relocation packages are replaced by local contracts, the ever-increasing fees changed by international schools overseas are becoming a major problem for expat families. As a result, globally mobile expats are being advised to stay firm on education costs when negotiating salaries and benefits. The situation is becoming critical, with more and more expat parents deciding to...
1 Dec at 6 PM 2016

UK expats shock at worldwide Marks and Spencer closures

Following the UK company’s decision to close its stores in China due to lack of demand, the quintessentially British retailer has now announced it will close100 stores in Europe. Known as a link with home for Brit expat shoppers, M&S has seemingly overreached itself with its huge expansion in Europe as well as its 10 stores in China. Once famed for its good quality, reasonably priced fashions and home décor goods, its UK sales figures and profits have been declining during recent years, although its website accounts for around...
22 Nov at 6 PM 2016

Expat dismay as Marks and Spencer deserts China

As if the shock of losing access to Uber wasn’t enough for Shanghai’s disparate expat community to bear, the news that Britain’s beloved Marks and Spencer store is to close all its Chinese branches may well be the last straw. Uber’s recent decision to delete its English-language app as well as ending payment by credit card was a tough call for expats in Shanghai, most of whom are not fluent in the Chinese language. Even so, the decision by one of the UK’s leading retailers is a worse blow for very practical reasons – the...
28 Oct at 6 PM 2016

Is India the new China for expats

As China falls fast as regards popularity with expats, the recent HSBC survey suggests India may be the new number one for those looking for business opportunities amid exotic surroundings. It seems the expat world is changing even faster than the real world, with formerly popular destinations such as Hong Kong and mainland China tumbling down the lists published by annual surveys. As fast as China falls, India is surging upward, with its overall rank now higher than that of the USA as well as China. So, what’s so special about...
28 Oct at 6 PM 2016

Expat bankers in Hong Kong mourn the old days

The ‘good old days’ of Hong Kong’s expat banking community are now long gone, with conspicuous consumption and extravagant lifestyles being replaced by discretion and lower spending. In the days before the 2008 financial crisis, Hong Kong was the dream relocation for a huge number of expat bankers, all gifted with packages covering everything from luxury housing through kids’ schooling and expense account entertainment. Salaries and generous bonuses were lavished on the city’s upscale nightlife, riotous parties and every...