The Philippines ranked 24th in a list of the best countries for expatriates to live and work in, according to a poll taken global banking giant HSBC.
In HSBC's 2019 Expat Explorer Survey, the Philippines' standing improved four notches from last year's 28th place. At 24th, the Philippines was only a rank behind the US (23rd) and two notches above China (26th).
The Expat Explorer Survey interviewed around 18,000 expatriates across 163 markets. The questions were based on three criteria: living, career opportunity, and family life.
"With its tropical climate and steadily growing economy, the Philippines is quickly becoming one of the most popular expat destinations in Southeast Asia," the HSBC report said.
The global lender said the Philippines is attracting expats from across the globe, noting the government’s focus on encouraging foreign investment.
"[T]he country is set to become another economic powerhouse in Southeast Asia," the report explained.
HSBC also took note of the country's low cost of living compared to other Southeast Asian countries.
"Manila is a cheaper place to live than Singapore and Bangkok," it said. "Most expats who move to the Philippines live in Manila – and many find it easy to adjust to life in this bustling modern city with its blend of Western influences and traditional charm."
Switzerland topped the ranking, followed by Singapore and Canada.
Other countries in the top 10 spots were Spain, New Zealand, Australia, Turkey, Germany, United Arab Emirates, and Vietnam. — John Ted Cordero/DVM, GMA News