HK climbs to 21st place overtaking Singapore in best place for expats in 2024

According to the Expat Insider 2024 annual survey conducted by the global expatriate community InterNations, Vietnam has been named the most affordable destination for expatriates for the fourth consecutive year.

Meanwhile, Panama is the best destination for expats in 2024, followed by Mexico, Indonesia, Spain, and Colombia. Mainland China ranks 19th, while Hong Kong Special Administrative Region (SAR) climbs to 21st place, surpassing Singapore, which ranks 30th.

The report surveyed 12,543 expatriates from 175 countries residing in 174 countries or regions worldwide in February of this year.

The results closely mirror the previous year's results, with Vietnam leading in personal finance satisfaction. The top ten in this category are Colombia, Indonesia, Panama, the Philippines, India, Mexico, Thailand, Brazil, and China. Kathrin Chudoba, Chief Marketing Officer at InterNations, attributes this to housing affordability, noting that most expatriates find it easy to secure affordable housing in these locations.

Additionally, the survey highlighted the top ten destinations considered most suitable for expatriates: Panama, Mexico, Indonesia, Spain, Colombia, Thailand, Brazil, Vietnam, the Philippines, and the United Arab Emirates. Many respondents cited economic reasons, retirement, or the pursuit of a better quality of life as their motivations for moving to these countries, notably Panama.

Hong Kong, which ranks 21st in the best destination for expats, has improved significantly, moving up 19 places from last year and surpassing Singapore in 30th place. In terms of affordability, Hong Kong ranks 28th, an improvement of 15 places. Hong Kong saw improvements across all five sub-indices this year, with notable enhancements in personal finances and quality of life.