In an increasingly globalised society, many millennials (considered to be those aged 26 to 40) are eager to move abroad to work towards achieving their personal and career goals. As a matter of fact, the World Economic Forum found that 4 out of 5 millennials are willing to migrate overseas for work opportunities.
Asia is a popular destination for millennials due to its rapid economic and technological advancements. The Asian job market is at the forefront of growth, with millennials composing most of the Asian workforce. That being said, Asia is currently the global millennial hub, with more than 58% of the world’s millennials calling this region their home.
So, if you’re thinking of broadening your horizons and exploring career opportunities, consider these millennial-friendly cities in Asia you can relocate to for work.
Despite being a small city, Singapore is a hub for innovation and economic growth. Its thriving economy boasts a strong job market for young people looking to find jobs within startups and other companies. Singapore has the highest GDP per capita ($79,000) and second-lowest unemployment rate (2.2%) among 20 other Asian cities studied – which suggests that you may find it somewhat easier to find higher-paying jobs. Moreover, Singapore has the lowest gender wage gap.
The city also offers a high quality of living, thanks to its high safety ratings and low levels of pollution. Although a downside would be that Singapore possesses a high cost of living, it’s a choice worth considering if abundant work opportunities are what you’re looking for.
2. Hong Kong
Hong Kong is often at the top of millennial-friendly cities in Asia – and not without reason. With a high GDP per capita ($63,000) and a low unemployment rate (2.8%), Hong Kong carries a remarkably strong job market. This modern city also provides excellent career progression for young people, offering roles in both startups and multinational companies. The city’s health indicators are also high, with a life expectancy of 84.2 years and child mortality rate of 0.27%.
However, residing in Hong Kong comes with a significantly high cost of living. Residents spend about 31% of their monthly income on rent, which can place a high financial burden on young people. Nonetheless, this exciting city remains popular among young people looking to relocate.
Japan’s capital city offers the perfect balance between a robust economy, a reasonable cost of living and a pleasant living environment. It has one of the highest GDP per capita ($53,000) and lowest employment rates (2.5%). It’s also estimated that Tokyo’s residents spend 27% less of their income on rent than those living in other cities.
If you’re passionate about innovation, Tokyo might be right for you! In addition to being at the forefront of technological development, the city boasts a modern and even futuristic structure. Last but not least, Tokyo fares well when it comes to safety and low pollution, assuring you of quality living.
If there’s one thing that pulls millennials into this large Chinese city, it’s the incredibly low cost of living. For instance, you can enjoy a pint of beer for just $1.22! Rent costs are also low, with residents spending only about 22% of their income on rent. Additionally, living in Guangzhou provides you with a larger disposable income, so you can spend on travelling, entertainment and saving up for your own property!
With that said, Guangzhou has relatively high levels of pollution as compared to other cities. Yet, it’s still a fantastic choice for a comfortable standard of living.
Relocating for job opportunities is a thrilling experience. Apart from achieving your career goals, you also receive the chance to encounter new lifestyle changes in modern, thriving, Millennial-friendly cities in Asia.
An important aspect of the relocation process that you shouldn’t place on the backburner is engaging in reliable global relocation services! From packing and shipping to linking you with our trusted partners, Moovaz is one of the best international moving companies that will strive to make your relocation experience a smooth one to any part of the world!