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India ranks first for expat savers, says survey

India is the top country for savings and investment according to a global expatriate survey commissioned by HSBC Bank International.

The expat explorer survey questioned 2,155 expatriates across four continents to examine the opportunities and challenges faced by expats in their new country of residence.

The survey reveals that 82 per cent of Indian-based expats save or invest more money from their household income in their new country of residence. This is followed by United Arab Emirates and Singapore with 78 per cent and 76 per cent of expats respectively allocating more money to investment and savings. French-based expats save or invest the least in their new country of residence with only 31 per cent putting more money into savings and investments. Fifty six per cent of expats living in the UK invest or save more of their household income.

Despite the current economic downturn, the expat community is continuing to spend more with over half of respondents (52 per cent) spending more on food, 49 per cent spending more on shopping and 45 per cent spending more on socialising in their new country.

According to the survey, Hong Kong-based expats have the highest salaries in the world with 49 per cent earning more than £100,000 per annum. Spain has the lowest number of expats in this earnings bracket with only 9 per cent earning more than £100,000 per annum.

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