The study revealed that over half (51%) of respondents planning to relocate said they did not feel financially prepared, and no one had helped them in this regard. The top reasons for relocating to work or study abroad among international citizens were a better lifestyle, improved work-life balance, higher earnings, and travel opportunities.
The study also investigated international investors' personal finance and investment decision-making processes as they move overseas. The US is the leading destination for international investors, with 27% investing there, followed by the UK with 20%. The survey found that 67% of international investors plan on investing in their new location, and 68% of them would do more overseas investing if they had better access to guidance.
Additionally, 36% of international investors own a property overseas. HSBC's interim US head of wealth and personal banking, Mark Pittsey, highlighted the importance of using their platforms and systems to make banking across borders a smoother process, supporting clients at multiple points throughout their wealth journey.