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Workers in Singapore are expected to receive a salary increase of 4.0% in nominal terms in 2024, consistent with the rate in 2023.
Workers in Hong Kong are expected to receive a salary increase of 4.0% in 2024, the same as 2023.
Businesses in the UK expect to repeat an historic 5% nominal pay increase in 2024
Singapore rose six places to 16th position in global rankings of locations with the highest expatriate packages
Hong Kong rose three places to fifth position in rankings.
Average annual cost of sending an expat to the UK is now £351 992, up by 11% on last year.
Following a four-year reign, Hong Kong (2nd) loses the top spot to New York
Singapore is now the fifth most expensive location in the world for expatriates, driven by rising accommodation costs
Hong Kong loses number one status in spite of high levels of inflation
ECA has secured a multi-million pound investment from Pelican Capital to accelerate development of its software-as-a-service businesses that help companies manage their internationally mobile workforce.