News
23 Jun 2014 01:37pm

Hong Kong number one for relocation

Young professionals in the UK have voted Hong Kong as the top country for relocation, according to a survey by financial advisory firm deVere Group

After conducting the poll with 365 British professionals under the age of 35, deVere Group found that 26% would pick Hong Kong as the number one spot to work abroad.

Nigel Green, founder and CEO of deVere Group, said that talented young professionals were drawn to Hong Kong because of exciting career prospects, as well as competitive tax rates.

“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 while abroad,” he said.

“Bearing these important ‘pull’ factors in mind, it makes perfect sense that Hong Kong and Dubai topped the poll for British professionals under 35.”

While Hong Kong came first, it only narrowly beat Dubai, which scored 23%; New York scored 19%, while Cape Town and Sydney ranked in at 15% and 7% respectively. A number of other cities – including Barcelona and Tokyo – were also mentioned.

Hong Kong pipped Dubai in the rankings because it was more familiar to British young professionals partly due to its status as a former colony.

“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,” Green said.

“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 serviced by airlines servicing UK airports.

“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.”

Oliver Griffin

 

Related articles

Location location location 

Beijing to keep door open to Hong Kong accountants

Calling to accountancy 

10 key countries for accounting careers