BackIndia popular in Asia-Pacific region for expat entrepreneurs: HSBC survey
Expat Explorer survey revealed that India draws more expat entrepreneurs than countries in the Middle East, such as Bahrain and the UAE
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Mumbai: The fastest growing major economy in the world, India, has also become a popular destination in the Asia-Pacific region for expat entrepreneurs to set up a business, according to HSBC’s ‘Expat Explorer Survey’.
“India is a popular destination for expat entrepreneurs. More than one in 10 (11%) expats in the country moved here to set up a business, more than twice the average of 5% across Asia-Pacific," according to the survey.
The survey also revealed that India draws more expat entrepreneurs than countries in the Middle East, such as Bahrain (7%) and the UAE (5%). The 2016 Expat Explorer survey was conducted among 26,871 expats in over 100 countries through an online questionnaire in March, April and May 2016.
In comparison to other countries in the region, India also has the highest proportion of expats on an international secondment or assignment, it said. A third (33%) of expats in India have been relocated to the country by their employer, more than in regional financial hubs such as Hong Kong (26%) and Singapore (22%), and above the Asia-Pacific average of 17%, it added.
Nearly two-thirds (64%) of expats are confident of the Indian economy, above the expat average of 52% across Asia-Pacific, it said. More than half (53%) of expats in India also have confidence in the political stability of the country, above the regional average of 48%.
Expats in India are able to save more, with 44% saying that living here have accelerated their progress towards making long-term savings and investments, compared with 39% across the region. The average annual expat income in India is $145,057 as compared to the global average of $97,419, it said.
“The survey shows that many Asian expats work abroad primarily to improve earnings, career prospects and quality of life. Some move overseas to study and take up a new challenge," HSBC’s head - retail banking and wealth management, India, S.Ramakrishnan said.
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