Macau eighth most financially attractive city for expats


The Macau Special Administrative Region is ranked 8th most financially attractive city for foreign workers, according to the latest data gathered by global research company AIRINC.
In terms of overall attractiveness, the city stood at 40th, ahead of other Chinese cities on the list such as Shanghai, Beijing, Guangzhou and Shenzhen, while Hong Kong ranked 27th.
The ranking combines local salary levels, tax rates, living costs, and living conditions to assess the attractiveness of each location and comprises two sub-rankings – Lifestyle Rank and Financial Rank in addition to the general ranking of Overall Attractiveness.
Featuring the report, the Harvard Business Review explained that the top ten cities in the ranking all offer rather high salaries, with Macau, in particular, requiring no or very low personal income tax.
According to the official data released by the city’s Labour Affairs Bureau (DSAL) some 177,662 foreign workers were working in the MSAR as at the end of January this year, of which those from Mainland China accounted for 63.5 per cent of the total.
Most foreign workers in Macau were engaged in the sector of hotels and restaurants, followed by those in the construction industry and those providing domestic services.
Zurich in Switzerland, on the other hand, topped the list as the most attractive city for foreign workers in the world. The Swiss city also topped the Lifestyle Rank and occupied third place for the Financial Rank.
Meanwhile, Singapore hit 14th in the Overall Attractiveness list, the highest ranking among Asian cities.
The list also shows the least attractive city for foreign workers is the capital of Papua New Guinea – Port Moresby.
Meanwhile, the news outlet noted that the amount of foreign talent from the Western world and other developed cities moving to Asia is growing, due to geographical policies such as Brexit and Trump administration policies.