Better Career, Enhanced Salary, Sense of Fulfillment Attracting NRIs to India: SurveyJuly 20, 2019 06:57
If you think a large number of Indians are showing keen to moving abroad, then you are to a little extent mistaken because a survey found that India emerging as a popular landing place for expats as working in the country improves their careers, provides enhanced salary and sense of fulfillment.
The survey, 12th Annual League Table of Best Places to Live and Work, was commissioned by HSBC and conducted by YouGov on 18,059 expats and 163 markets through an online questionnaire in February and March 2019.
About 48 percent of overseas experts became aware of the benefits of working in India, having achieved a whopping great sense of fulfillment after relocating, as compared to the global average of 42 percent.
More than 29 percent of international professionals said they have been promoted more rapidly as a result of relocating to India. Around 58 percent also think India provides a good place to pick up new work-related skills.
International professionals said their gross annual personal income rose by around 24 percent since relocating to India.
Interestingly, 32 percent of those who moved to India said they are receiving a salary of USD 100,000 (around Rs 69.5 lakh) or more per year, far above the global average of 18 percent.
Also, 49 percent of respondents said they have more disposable income in India than their home country, for the most part owing to the lower cost of living in India as compared to their home countries.
The survey also revealed that more experienced Indian professionals are moving abroad, for career progression, chiefly in the fields of financial services (24 percent), health (11 percent), engineering/ design and architecture (11 percent).
The United Kingdom, the United Arab Emirates and the United States remain popular destinations for Indian expats and foremost reasons for the move include improved quality of life, boost in career, and improved net income.
"Our study shows that more professionals are choosing to work abroad, helping them achieve their ambitions and long-term financial goals, from improving their job prospects and access to better education for their children to buying the property or saving more for retirement," HSBC India Head of Retail Banking and Wealth Management Ramakrishnan S said.
Ramakrishnan further said "this year's survey reveals that better career prospects and a higher sense of fulfillment are attracting expats to India. At the same time, there is a large NRI diaspora of about 30 million Indians living outside India".
By Sowmya Sangam