There are always a handful of locations with hot housing rental markets, but this year has been hotter than usual with big increases on both sides of the Atlantic.
Expat salary and benefits packages in Singapore rose by a modest 4% in 2021 in local currency terms despite the city’s fall to 22nd place in the rankings of the costliest places to employ expatriates globally.
Expat pay and benefits packages in Hong Kong rose by a modest USD 3 800 in 2021, to a total of USD 283 000, a rate of growth which was amongst the lowest of all locations in Asia.
With inflation on the rise in countries around the world, it is increasingly important that global mobility managers and assignees understand how rising prices impact pay.
Assignment management software can be a key enabler for GM teams to rise to the challenges posed by ever-increasing compliance demands.
How have key events around the world affected cost of living indices for your assignees?
A 20% rent increase cements London’s position within top five most expensive cities in the world, while a 12% increase in rental costs sees New York overtake Geneva to secure second place.
Strong currency ensures Hong Kong keeps its crown for another year.
A further rise in Singapore’s ranking was curbed by the weaker Singapore dollar against other major currencies.
Here we look at some tax concession examples and highlight some recent changes, with a special focus on the tax system overhaul in Belgium from earlier this year.