View of Hanoi’s West Lake (Photo: skyscrapercity.com)

Hanoi (VNA) - Vietnam has overtaken Japan, the Republic of Korea (RoK), Thailand and Taiwan on the list of most desirable locations for expat career opportunities, according to new data released from the latest Expat Explorer survey from the Hong Kong and Shanghai Banking Corporation Limited (HSBC) in 2017.

The report, published on January 6, ranked Vietnam 28th on a global list of destinations for a successful expat career, placing the country higher than RoK at 38th, Japan at 36th, Thailand at 34th and Taiwan at 31st.

In Vietnam, nearly four in five expats said their employment package comes with benefits. China, India and RoK reported 90 percent, 89 percent and 88 percent, respectively.

In relation to work-life balance, in Asia, Vietnam ranked second with 57 percent of expats saying that they enjoyed a superior work-life balance. The metric was preceded by Thailand at 60 percent and closely followed by Indonesia at 56 percent.

More broadly, expats across Asia, especially Southeast Asia, find their work more fulfilling than previous jobs back home. The majority of expats in Vietnam at 52 percent, Thailand and Indonesia both at 54 percent and Singapore at 53 percent said they were more fulfilled at work since they made the move.

“With relatively faster growth rates, a rapidly expanding middle class and improving infrastructure, the ASEAN is becoming an exciting destination for foreign investments which are usually accompanied by an increasing number of expats, both from within the region and globally. We are confident that each of the ASEAN markets can offer rewarding international career prospects,” said Sabbir Ahmed, head of Retail Banking and Wealth Management, HSBC Vietnam.

Expats in Vietnam have been well compensated through higher salaries, almost 50 times more than the average wage in their countries, as employers place higher value on retaining foreign employees.

The careers league table scores and rankings are based on eight criteria: skill acquisition, career progression, job security, earnings, benefits packages, work-life balance, work culture and fulfilment at work.

According to HSBC’s Expat Explorer survey, Europe is rated the best destination worldwide for those looking to progress their career abroad and benefit from great working conditions.-VNA