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HSBC Expat Explorer Survery - Utter Rubbish

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Posted

The so called 'Expat Experience' report is nothing more than a brand awareness exercise by HSBC. It's aimed at people who are divorced from reality... that is, people that can afford to go anywhere, or live anywhere, and take their entire family with them i.e. the independently wealthy, or those on high tier expat packages... It's meaningless to almost everyone else.

There figures are laughable. 4,127 expats in over 100 countries were surveyed... Annual income in excess of US$200,000. That figure is such a tiny cross section of expats it makes it's worthless, but as a marketing gimmick to attract the most lucrative customers (that's all it is) it really works, for very little investment from their advertising budget. They also uploaded the following video to youtube...

http://www.youtube.com/watch?v=kdY8slrA-1w

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Posted

That's pretty obvious, since I was given a survey similar to this when I tried to apply for a HSBC account in China. The thing people need to realize is that the only truly "international" account that HSBC provides is their "Premier" accounts. Premier accounts has quite a lot of requirements before you can qualify for its "benefits". Afaik, (or remember) you need at least 500,000 RMB in your account at all times in HSBC in China, or you must fulfil other volume or income requirements.

If you aren't qualified for the accounts, then you aren't part of its idea of "expat", therefore not in its database.

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Posted

There's only one measure for Premier status and that's the "Total Relationship Balance"; you need to maintain a balance of RMB500,000 for China or SGD200,000 in Singapore across all accounts, so that's the total balance for current accounts, savings and investments.

It's pretty simple.

Though once you hold a premier account in one country you can open premier accounts in other countries without meeting the balance requirements of that country, you need to do it and maintain it just once.

As for the Survey, as Mandi says, it's nothing more than a brand awareness and free advertising in the world media.

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Posted

That video is vomit-making self-aggrandisement. Even if you didn't know the income bracket they are dealing with is only the top echelon.

And she's surprised that expats are chanelling some of their money back home to feather their home nests. What planet does this sheila live on? It's not the same one I do.

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Posted

She says expats are telling her and HSBC that they find this survey very useful.

Indeed, if I was in Canada, I would sure find it very useful and would want to go to Thailand.

Nobody wants to be number 2

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Posted

It would have been more instructive if they'd added a column to the table giving the number of respondents in each country, but I guess that would have highlighted the flaw in the survey too readily.

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Posted

We're number 1, Stocky, just enjoy it. :whistling:

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Posted

Well, since Canada is on the roster, I am kinda assuming this is for wealthy American clients then?

Is this a showcase of how Americans perceive to view to world? Or how HSBC perceives upper class Americans on how they see the world?

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Posted

The so called 'Expat Experience' report is nothing more than a brand awareness exercise by HSBC. It's aimed at people who are divorced from reality... that is, people that can afford to go anywhere, or live anywhere,

Yes when I had a place on Phuket I was aware of many gated communities containing luxury villas where, I believe, a management company would be responsible for ensuring there was water, electricity, internet, good security, etc. I can imagine people living there would report a good quality of life.

However those of us living on real Phuket had to endure no running water at least two days a week, zero bandwidth broadband, power cuts, major security issues, snakes everywhere and so on...

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Posted

snakes everywhere and so on...

I rather suspect Mrs Quenton-Farquhar-Davenport would head for the airport with great haste if she found one of these in the back garden...

""

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Posted

Its probably relevant to my company's Country Head and one or two of his immediate reports, but for those of us down the line it is meaningless.

But then again, we are probably next to meaningless to HSBC's bottom line.

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