HSBC study reveals Canada's warm welcome

Immigrants to Canada share their arrival experiences 
VANCOUVER, Nov. 1, 2012 /CNW/ - Canada may be known for cold weather, but 82% 
of new immigrants reveal they felt a warm welcome on arrival here. 
Montrealers, healthcare professionals and banks/financial institutions are 
cited as the most welcoming - and 84% of new immigrants confirm they would 
recommend immigrating here to family and friends. 
These are some of the findings of HSBC Bank Canada's New to Canada survey 
released today, which polled over 600 new immigrants across the country 
regarding their relocation experience. 
The study reveals that, while Canada offers a friendly reception along with 
quality of life and natural beauty, the arrival and adjustment process is not 
without its challenges. 
Finding employment (62%), missing family (42%) and making friends (34%) were 
the top three difficulties faced. When reflecting on their experiences in 
settling their finances, respondents confessed they found it hard to 
understand Canadian investment options, secure approvals for loans, and obtain 
credit cards. When asked to share one piece of financial advice with other new 
immigrants, many said it would be to find a bank that enables you to manage 
your money both in and outside of Canada. 
Betty Miao, Executive Vice President, Retail Banking and Wealth Management, 
HSBC Bank Canada, said: "Moving to a new country is an exciting experience on 
many levels, but it can be a challenge if you haven't prepared for your 
arrival in advance. In Canada, the financial institution that people first 
choose is often the one they stay with, so it's important for new immigrants 
to select the one that best suits their needs." 
Other key survey results include: 


    --  Why Canada? Lifestyle (42%) and family (42%) tie as the top two
        reasons for choosing Canada - beating out professional reasons
        (27%), personal education (20%), children's education (15%) and
        financial reasons (17%);
    --  Challenges: Employment (62%), missing family (42%) and making
        friends (34%) are more of an issue than the weather (29%)
        finding a home (18%) or adjusting to the language (18%);
    --  City rankings: The most welcoming city was Montreal (89%),
        followed by Calgary/Edmonton (84%), Toronto (79%) and Vancouver
        (73%);
    --  Friendly faces: Banks (86%) and health care workers (77%) were
        deemed the most welcoming groups. Work colleagues were next
        (67%), followed by school colleagues (55%) and prospective
        employers (48%);
    --  What do immigrants like about Canada? Quality of life (78%) and
        its natural beauty and environment (73%) were more important
        than the people (42%) and education opportunities (39%);
    --  What do they dislike? Over half (51%) pegged the cost of living
        as their top complaint. Interestingly, one in four (25%)
        expressed no grievance at all;
    --  The international referral: 84% of respondents confirm they
        would recommend immigrating to Canada to family and friends
        overseas;
    --  Financial advice to others making the move: Find a bank that
        can manage your money both in and outside of Canada was the
        leading tip (24%), followed by seeking a bank that will
        recognize your credit history (21%), obtain financial advice
        (18%), learn more about RRSPs (11%) and learn more about RESPs
        (6%).
    --  Culture shocks: the biggest two shocks were the cost of housing
        and real estate (56%), closely followed by their education and
        training being undervalued (50%).

Note to Editors:

About the New to Canada Survey 
The New to Canada survey was commissioned by HSBC Bank Canada in August 2012 
and conducted online by Angus Reid Public Opinion. The survey investigated the 
arrival experience of 607 adult immigrants across Canada, who had arrived in 
the country within the last ten years. The margin of error which measures 
sampling variability is +/- 4.0% for the entire sample. Discrepancies in or 
between totals are due to rounding.

About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading 
international bank in Canada. With around 6,900 offices in over 80 countries 
and territories and assets of US$2,652 billion at 30 June 2012, the HSBC Group 
is one of the world's largest banking and financial services organizations. 

Media enquiries:

Ernest Yee Vice President, Corporate Affairs HSBC Bank Canada (604) 641-2973

Fabrice de Dongo Senior Manager, Public Affairs HSBC Bank Canada (416) 868-8282

SOURCE: HSBC Bank Canada

To view this news release in HTML formatting, please use the following URL: 
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CO: HSBC Bank Canada
ST: British Columbia
NI: FIN ECOSURV 

-0- Nov/01/2012 12:00 GMT


 
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