Hong Kong has one of the best benefits for foreign junior executives in Asia but it lags India and mainland China, according to a survey by human resources consultancy firm ECA International.
Expatriate accommodation and other benefits remain expensive in Hong Kong but average salaries are lower compared with those in other Asian countries such as Japan, Australia, India and China.
That makes Hong Kong a competitive choice for headquarters in Asia for large corporations, Sing Tao Daily reported Thursday, citing the survey.
ECA International polled more than 10,000 expatriates from 163 countries between September and October last year.
The average pay package for middle managers in Hong Kong is HK$2.1 million (US$270,870) a year, the fifth highest among 15 Asia-Pacific countries. Japan came first, followed by Australia, India and China.
Home prices and cost of living have increased considerably for first and second-tier cities in the mainland in recent years, fueled by a rising renminbi.
However, a key consideration for corporates targeting Hong Kong is access to the mainland market, the report said.
Singapore ranked sixth in the survey and enjoys a similar level of competitiveness as Hong Kong.
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