Expat package value declines in HK, S’pore

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.