While Hong Kong and Singapore are both well-established destinations for businesses and their employees to station and settle in, this does come at a high price tag. Cost of living has continuously been on the rise and is getting too expensive for many companies.
We are seeing an increase of activities in Vietnam, Cambodia, Malaysia, Indonesia and the Philippines. All these rising hot spots where corporations are considering moving their employees to have a few common factors like low cost of living, and emerging markets with a lot of infrastructure changes coming into play to make living more comfortable for foreign nationals.
Each of these rising countries has its own local skill set, too. For example, in the Philippines, locals are highly skilled lingually, and Cambodia has a very open economy where doing business in USD comes very easy.
While we focused on cost in this post, organisations also need to take into account safety and political instability when moving their employees into these locations.
Asian destinations are racing up the popularity ladder for expats looking for an exciting new experience, whether it’s for work or retirement. Warmer weather, exotic surroundings, ancient cultures and better work-life balances are all there for the taking in Asia. From interesting and rewarding jobs in fast-developing economies through entrepreneurial challenges to affordable retirements, Asia has it all for adventurous expats. Some popular locations such as Singapore and Hong Kong have been favourites for a while, with others such as Cambodia and Vietnam are now drawing ever-increasing numbers of Westerners looking for an alternative lifestyle experience.