Millennials all around the world are always more willing to move abroad to pursue greater opportunities. Whether it is in search for educational or career opportunities, a good percentage of them are always open to relocating internationally. In fact, studies conducted by the World Economic Forum discovered that every four out of five millennials would be very willing to relocate internationally for purposes of work. The Asia-Pacific region is one of the regions in the world that have experienced a huge rise in the number of millennials. Currently, about 60 percent of all the millennials in the world live in this region. However, this also brings up the question which exactly of the Asia-pacific cities are a great fit for the millennials to live and work? To answer this question, we will use a study that was conducted by ValueChampion on 20 of the most popular cities in this region. So without further ado, let’s look at the top 5 best cities for millennials to live and work in the Asia-Pacific region.
Melbourne
Coming fifth position is Melbourne which is the by far the second-largest city in Australia. Being one of the few cities with the longest standing reputation of the most livable cities in the world, this position comes as a no surprise to many. The city definitely has a very vibrant art scene, iconic sports stadiums, and most of all, it is very near to the coast. All these make it take the second place overall when it comes to the quality of life. With the residents spending about 20 percent of their salary on rent, it is relatively affordability thus attaining the third place in terms of the cost of living. The only things that pulls it down is work prospects, although, it still manages to have an above-average unemployment rate of 5 percent.
Hong Kong
Despite being known to have a notoriously high cost of living, Hong Kong is able to rank third in this list. This is mainly due to the city’s thriving lifestyle scene as well as strong work prospects. As a matter of fact, the Chinese administrative district is regarded as one of Asia’s foremost economic hubs. This makes it to rank sixth place in terms of the quality of life. The residents of Hong Kong, however, spend an average of 31 percent of their income on rent alone. This makes the city to score a mediocre ninth place as far as cost of living is concerned.
Guangzhou
The low cost of living in Guangzhou, one of the most populous cities in China, has managed to land it in the fourth spot in this list. The city scored top marks when it comes to affordability and ranked first position alongside Seoul. In fact, the average resident spends about 22 percent of their income on rent which is not very high. However, it lags behind in terms of employment prospects and quality of life making it take the seventh and 11th position respectively. This is largely attributed to China’s high pollution levels and average unemployment rate. According to the study, the pollution in Guangzhou is the highest when compared to all the other cities in the list.
Tokyo
Thanks to Tokyo’s great balance of the reasonable cost of living, strong economy, and nice living environment, it manages to rank second on this list. According to ValueChampion, the Japanese capital has a modest unemployment rate which stands at 2.5 percent and a GDP per capita that is among the highest in the cities on the list. This makes it score a reasonable fifth position in terms of employment prospects. Talking of the cost of living, the residents spend an average of 27 percent of their salary on rent which is very low compared to residents of other cities on the list. Although this is lower than average, the saving seems to be squashed by the high transport and grocery costs in the city. Other things that also contribute to it scoring equally well for the quality of life are its low crime rate and pollution levels.
Singapore
Despite its small size, Singapore is the best city for millennials who are seeking to build their career and enjoy a high-quality life. Thanks to its thriving economy, very low pollution levels, and high safety ratings, it is a great place for anyone, whether young or old, to call home. According to the study, this island city has the highest GDP per capita as well as the second-lowest unemployment rate compared to all the cities on the list. Its low unemployment rate stands at only 22.2 percent. This means that it is relatively easier for millennials to find jobs here and build a good career. This is also supported by the city’s very lively and accommodative business environment. Of all the cities, it is also the one with the lowest gender wage gap.
