The cost of expat pay packages in Singapore climbed 4% last year, while those for foreign workers in Hong Kong fell, according to a new study by expat consultancy ECA International.
Total pay and benefits packages for average expat middle managers in Singapore rose to US$258,762, mainly due to higher rental costs. The increase narrowed the gap with rival Hong Kong, which saw typical expat packages fall 2% to $278,020.
Despite the drop in real terms, Hong Kong climbed three places to become the world’s fifth-most expensive place to send expat workers. Singapore sat at 16th place in the rankings. The top spot was retained by the United Kingdom, where the average package — comprising salary, tax and benefits such as accommodation, international schooling and utilities — amounted to $441,608, though salary only made up 18% of the total.
Japan, India and China took spots two, three and four in the MyExpatriate Market Pay Survey global ranking.Source: Bloomberg
