High Cost Of Living & Pollution in China Drive Off Expats
Arlene Lim | | Feb 24, 2015 10:35 AM EST |
The rising cost of living and air pollution in China are driving expatriates out of the country.
This is based on a new survey conducted by Unigroup Relocation, a company that provides international moving services.
The survey results also indicate that twice as many expats moved out of China last year than those who moved in.
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Aside from the increase in the living expenses and the environmental pollution, respondents in the survey say many of the expatriates leave China because their employment contracts are already expiring.
Other expats are also called back to their headquarters abroad to augment the number of personnel in their own home countries.
China's economic growth is currently at its lowest level in the last 5 years and this has affected the revenues of multinational companies operating there.
This condition is further aggravated by the anti-foreign sentiments growing in some parts of China.
Economist and professor Michael Stoll, who chairs the Department of Public Policy at the University of California, says, "China's economy has grown nearly 15 percent per year for the past several year, but it slowed to about 7 percent growth in 2014."
He explains, "while it is still positive, it is a large reduction in growth from recent trends."
The biggest number of expats in China comes from the United States.
Although their influx into the Mainland continues, their number is 22 percent down compared to 2013.
Unigroup Relocation's study also shows most of those who are flying out of China are bound for the United States.
But a significant number of expats are also relocating to Germany, France and Singapore.
There are also those who are off to Hong Kong and Malaysia.
Compared to last year, the number of expats from China who are moving to Japan has doubled.
On the other hand, the stream of expats travelling in and out of China to both Singapore and Malaysia remains the same for the last couple of years.
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