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News >> Technology >>
Asia the favorite spot for IT executives to relocate
By siliconindia
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Saturday, 30 August 2008, 17:26 IST
Bangalore: As U.S. and European economies are stumbling and still facing uncertainty, many of the c-level IT executives who are working in these countries are now looking to relocate to the Asia as the region shows a steady growth in IT sector.
According to a survey conducted by CTPartners, an executive search firm among the senior executives in U.S., UK, France and other European countries, 49 percent wished to relocate to Asian region followed by the Middle East and Latin America.
As per a report in BusinessWeek, employees are being attracted by sound infrastructure in countries like Hong Kong and Singapore. "Candidates are particularly open to the tech sector for relocation because of the growth market in Asia," said Kathryn Yap, Managing partner, CTPartners.
Yap also mentioned that most MNCs are willing to assume and manage logistics issues to relocate new employees. "Employment visas are easy to obtain for c-level executives and their families moving to Hong Kong and Singapore," she said.
She opined that salaries for c-level executives are higher in Asian countries than in U.S. and European countries by at least 15 percent, whereas the same does not apply for middle managers because there is more local talent in this segment to choose from in Asia.
Adam Bowden, senior consultant with the IT specialist recruitment division at Robert Walters Singapore said "IT companies in Singapore are not prepared to provide over-the-top expatriate packages for middle managers." However he said that "Support is provided with relocation costs and often accommodation is provided for the initial four to eight weeks, but schooling and housing allowances are a luxury of the past."
"As part of attracting foreign talents to the country, Singapore government had introduced what was essentially a newly created visa category to young professionals from the Asia-Pacific region," said Sommer Owens, IT banking Division Manager, Robert Walters, a professional recruitment firm.
She noted that Hong Kong and Japan are also attracting young professionals with their economies are well equipped with a range of conveniences including short-term and long-term serviced accommodation and international schools, as well as social and business networking groups, to help international professionals live in a new location.