HSBC Bank surveyed 1424 Indians living overseas to get an insight into their lives. The results suggest that Indians earn overseas almost Rs. 80, 00,000 per annum. As per official data, the per capita income of India is Rs. 1, 12,835.
The HSBC Survey reveals some interesting facts about the lifestyle of expats.
Of the 1424 Indians surveyed, 25% were females. 33% of all the people surveyed were in the age group of 18 to 34 years. People aged between 35 and 54 years comprised 52% of the surveyed group. 15% of the people were above the age of 54. The survey also revealed that 84% of the people had employment. 51% of them had children while 64% had their own property in India.
Indians living abroad seem obsessed with the property at home. A quarter of these Indians own at least 3 properties somewhere in the world. Half of them move to up their earning potential. This has led to a 31% increase in their average income. Two-thirds of the Indians spend their income on their homes in India.
According to SBS, almost half of the Indian living overseas buy property in India. They do so as they plan to live there when they go back.
47% of the expats surveyed said that they moved abroad to progress their career. The top 3 preferred destinations for Indians abroad are Europe (45%), the Middle East (29%), and the Far East (10%).
Half of the Indian expats (55%) rely on their friends and family for financial advice. The life of an Indian expat involved tight knit groups, the survey revealed.
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