Singapore, which was ranked ninth, remained “a fairly reasonably priced location” when employing expats, with the overall cost standing at US$232 454, including an average cash salary of US$88,045, the survey said.
Hong Kong remained the fourth most expensive place in Asia to employ an expat last year, with a mid-level foreign employee costing a company an average of US$284,466 per year, according to a new survey.
In 2018, the average package cost companies US$276,417 per person, including an average cash salary of US$86,984, when Hong Kong also ranked the fourth most expensive place in the region. The survey said the average cash salary earned per annum by mid-level expats in Hong Kong last year was the highest in the region, and had increased by 1.2 per cent.
Many companies are suffering and therefore cutting costs. As economic activity slows down, companies do not really need a higher headcountVeteran recruitment consultant Alexa Chow Yee-ping said she was not surprised by the latest report, adding that the largest cost to hiring an expat in Hong Kong was accommodation, as property prices and rent remained high.
On the mainland, the overall cost of employing an expat in the country dropped by more than US$6, 000, including a US$2, 262 drop in the average salary. The average cost of employing a mid-level expat there now stands at US$303,567 per year in total.
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