Ex­pat pack­age value de­clines in HK, S’pore

New Straits Times - - Business -

HONG KONG: The value of pay and ben­e­fits pack­ages for ex­pa­tri­ates mov­ing to Hong Kong and Singapore con­tinue to de­cline last year, ac­cord­ing to con­sul­tancy firm ECA In­ter­na­tional.

For mid­dle man­agers in Hong Kong, ex­pat pack­ages — in­clud­ing salary, tax and ben­e­fits such as ac­com­mo­da­tion and school­ing — have fallen two per cent in US dol­lar terms over the past five years to around US$265,500 (RM1.15 mil­lion), while the typ­i­cal pack­age in Singapore dropped six per cent to US$235,500, ECA’s an­nual MyEx­pa­tri­ate Mar­ket Pay sur­vey found.

The av­er­age ex­pat pack­age for a mid­dle man­ager in main­land China is worth US$282,500, be­hind Japan — the most ex­pen­sive pack­age in the Asia-Pa­cific re­gion — at US$367,500. Ja­panese pack­ages have risen by around 12 per cent from last year as the yen strength­ened against the dol­lar, said ECA.

In­dia has the third high­est pack­ages at US$277,900, pri­mar­ily be­cause of high taxes that con­sume al­most half their value, ac­cord­ing to ECA.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.