Famed for its incredible educational facilities, technological advancements and staggering economic growth, Asia is fast becoming the powerhouse of tech innovation and modern business.
Not only does it seem that much of the Asian job market is working at the forefront of development, but the youthful workforce is shaping companies in ways never seen before.
If these weren’t reasons enough to move to Asia, it also happens to be the millennial hub of the world, with over 58 percent of the global population of 20 to 38-year olds calling Asia their home.
The Millennial capital of the world
With so many millennials making up the bulk of the Asian workforce, the workplace is shifting. With more and more companies fighting for the very best candidates for each role, businesses in Asia are shaping themselves to accommodate the needs and expectations of the millennial workforce. This has resulted in a focus on creating a good work/life balance, affordable housing, and strong and diverse career prospects.
With so much to offer, and a steady stream of millennials moving to Asia to discover these benefits for themselves, we took a look at which Asian cities were the very best picks for the millennial relocator.
Boasting an incredibly strong job market, offering real career progression and roles in both start-ups and huge multinationals, Hong Kong is often top of a Millennial relocators location wish-list. Endlessly cool and exciting, Hong Kong offers both great career progression and experience, and a modern and exciting lifestyle.
Hong Kong is famously expensive, with a very high cost of living – especially when compared with some of the other places on our list. However, the salary expectations here are good, with the cost of renting here is on par with the target of 30% of your income.
Located in China, this is one of the most populated and impressively large places to live in not just China, but all of Asia. And there’s one thing that keeps native millennials from leaving and draws relocating millennials in: Guangzhou offers almost unrivalled affordability and a low cost of living.
The recommended percentage of your monthly salary spent on rent/housing is 30%, and many of the worlds capitals and largest cities having an average of over 30 percent, this comes as a substantial benefit. With rents in Guangzhou on average costing just over 20 percent of a monthly wage, you begin to see the appeal.
Millennials here enjoy a much larger amount of expendable income, freeing up resources for fun, travel, and to get onto the property ladder sooner. Despite a highly competitive job market, and unfortunately high levels of pollution, Guangzhou remains an excellent choice for a millennial looking to relocate to Asia.
Japan’s capital city offers prestige, history, incredible culture and excellent career prospects. And whilst capital cities are often the obvious choice for a millennial relocator, Tokyo really does offer something special.
Not only is the city at the forefront of tech and development, but the city’s structure itself is modern and often futuristic. This really is the place to live if you have a passion for innovation.
Tokyo also boasts a strong unemployment rate of just 2.5 percent, as well as low crime and pollution levels, making it a safe and welcoming place to live. But all these benefits do come at a price. Like Hong Kong, living in Tokyo does come at a premium and the cost of living is higher than other locations in Japan. But that’s the price you pay to live in a thriving capital city!
If you’re looking for innovation, incredible architecture, a modern environment and a focus on the environment then look no further. Singapore may be small, but the country/city has so much to offer. Not only does it have a very strong economy, the city boasts an excellent job market.
Again, the millennials living here do so at a premium. The safety, low pollution levels, and incredible lifestyle on offer comes at a cost, and Singapore is known for its very high cost of living. But if you’re looking to relocate to somewhere with a real wow factor, offering a great work/life balance, there’s arguably nowhere better.
If you’re planning your move to Asia, get in touch today. With local offices and relocation experts across the continent, we are the moving company to make it all easy for you.