The survey indicates that the wage gap for individuals working overseas has increased between the UK and Japan.
People from other countries are increasingly choosing Saudi Arabia as a popular place to live and work. ECA International, a consulting firm, conducted a recent study showing that expatriates in Saudi Arabia earn the world’s highest salaries. Middle managers in this country have an annual average salary of £83,763 (about Rs 88.64 lakh), the global peak. Despite a three percent drop from the prior year, the salary remains the highest.
Companies find sending employees to the UK pricier than other places. Thus, sending workers to the UK involves high costs due to taxes and benefits.
The Middle East, particularly Saudi Arabia, lures expats with generous salaries, motivating them to relocate. The absence of personal taxes and reduced benefit expenses in Saudi Arabia entice individuals to the higher salaries, making the expat life more economically viable.
The UK’s expat package expenses differ because taxes and benefits, not just salary, primarily constitute the overall cost. Consequently, the salary contributes less to the complete package compared to other nations.
According to the survey, the pay gap between the UK and Japan for expats has increased. Hong Kong has also become one of the top five most expensive places to send expat workers, despite a drop in real terms. Singapore holds the 16th place in the ranking.
In the global ranking of expat salaries and benefits, Japan, India, and China secure the second, third, and fourth positions.