Top 5 Asian countries for Finance Professionals: Comparison of Salaries, Taxes, & Cost of living

Highlights: Top 5 best countries for finance professionals to live in Asia

• Tokyo, Hong Kong, Shanghai, Sydney, and Singapore emerged as top 5 Asian countries.
• These Asian countries are reviewed based on ten key metrics.
• This review highlights the diverse factors of each city and their salaries, cost of living, and taxes.

 

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5 Asian countries for finance professionals looking to relocate

In the recent Bloomberg review encompassing of ten key metrics, such as rent, income, taxes, and educational costs, Tokyo stands out for its economic advantages and quality of life. Hong Kong came in second followed by Shanghai and Sydney. Singapore came at the fifth position.

 

Japan capital boasts stable rents, reasonably priced foreign school fees, and residents can buy Tesla Model Y Performance for around $50,000 per person.

 

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Details about the top 5 countries

City	Finance Professional’s annual pay	Michelin starred restaurants	Concerts (Taylor Swift, Coldplay)
Tokyo	$98,094	183	Yes
Hong Kong	$92,307	78	No
Shanghai	$53,439	51	No
Sydney	$114,189	141	Yes
Singapore	$84,109	55	Yes

 

Tokyo

Tokyo stands out for its cost effective living, more Michelin-starred restaurants, cleanliness, low pollution, and cultural diversity. The route to permanent residency for high earners has contributed to a recent increase in the city’s foreign workforce.

 

Hong Kong

Hong Kong secured the second position, with a finance manager's annual pay of $92,307 and 78 Michelin-starred restaurants. It offers the lowest personal income tax rate and a significant increase in wage. Government initiatives, such as lower taxes for foreign real estate buyers and a high-earning worker visa program, aim to restore the city's global financial center reputation. 

 

Shanghai

Residents of Shanghai highlight the city's resilience and dynamic atmosphere. Shanghai offers advantages like low cost of living expenditures, including food, rent, and medical services but faces increased foreign school fees and relatively high tax rates.

 

Sydney

Sydney secures the fourth spot with finance and accounting plant manager's annual pay of $114,189 and 141 Chef Hat restaurants. It offers a desirable lifestyle and an English-speaking population and there’s a growing popularity due to excellent public schools.

 

Singapore

Singapore secured the fifth position and post-pandemic wealthy individuals have increased in number entering the nation due to its low tax rates and safety. Foreign nationals make up 30% of the population in Singapore. However, it's the most expensive city for vehicle ownership, with Tesla registration exceeding $200,000.

 

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