Hong Kong named top overseas destination by prospective British expats

by Ray Clancy on June 23, 2014

Hong Kong is the top overseas location for young British professionals wanting to work abroad, followed by Dubai and New York.

Research carried out by global independent financial advisory firm deVere Group, which has 80,000 clients in 100 countries, found that 26% of its UK-based clients under the age of 35 named Hong Kong as their number one choice for relocation if they were to leave the UK.

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26% of UK-ers surveyed (aged 35 and under) named Hong Kong as their #1 choice for potential relocation

Hong Kong was followed by Dubai with 23%, New York 19%, Cape Town 15% and Sydney 7%. Some 10% of those surveyed cited other destinations including Abu Dhabi, Barcelona, Tokyo and Geneva.

Of the 365 UK based young professionals polled in this survey, 78% said they have seriously considered, are thinking about, or would be tempted to move overseas.

‘Relocating overseas is always a big step and so the benefits and rewards for doing so need to be clearly identifiable and substantial,’ said deVere Group’s founder and chief executive, Nigel Green.

‘Naturally, high achieving young professionals like those who participated in this survey, would be looking at global destinations that are perceived to offer the very best career and remuneration opportunities available and preferably have a competitive tax rate in order to maximise their income whilst abroad,’ he explained.

‘Bearing these important pull factors in mind, it makes perfect sense that Hong Kong and Dubai topped the poll for British professionals under 35. Perhaps the reason why Hong Kong ranked just slightly ahead of Dubai is due to it being arguably more familiar in business terms because of its former British colony status,’ he added.

Green pointed out that besides the top five overseas relocation destinations all being major international business hubs and having comparatively lower personal taxation than the UK, they also share other characteristics.

‘For instance, they all have large, established expatriate populations, English is the primary business language, infrastructure and communications are world class, and they are all well served by airlines servicing UK airports,’ said Green.

‘I would suggest that those key international business hubs that didn’t make the list need to be asking questions regarding what they should be doing to become more attractive to the very best young professional talent in the UK, the majority of whom are prepared to relocate overseas,’ he concluded.

 

 

 

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