Australian expats are becoming unhappy in Europe, with many looking for greener pastures back home or in Asia.
Australian expats are moving away from Europe and into Asia, chasing higher pay and a better lifestyle.
More than half of Aussie expats are looking to leave their host country and head back home or to Asia, according to the annual HSBC Expat Explorer survey of 7,000 expats from 100 countries, including 200 Australians.
Thailand was ranked as the best country for lifestyle and cost of living, while expats rated Germany as the best place to raise children.
The majority of Australian expats, 48 per cent, are based in Europe and the UK, and 24 per cent of Australians are currently in Asia.
The survey showed 13 per cent of Aussie expats were looking to move from their current home, while 41 per cent were beginning to consider a move - with almost half of those looking to return home, and another 10 per looking to move to Asia.
"About half of the Aussies abroad said they were heading home, particularly from the UK, and the reasons they cited were poor economic conditions, better opportunities elsewhere and high expenses," HSBC head of retail banking and wealth management Graham Heunis said.
"You look at economic growth in Asia in comparison to Europe and there are clearly more opportunities and you can see that Indonesia and Vietnam are now becoming strong destinations for Australian expats.
"Almost a quarter of expats in Indonesia are earning over $US250,000 and I think what you're seeing is lifestyle in the faster growing economies catching up with the lifestyle of the western economies for expats."
Surprisingly, just two per cent of Australian respondents were located in China - Australia's biggest trading partner.
"That was something that was quite profound for us - we didn't quite anticipate that," Mr Heunis said.
"Given our close economic ties with China, it's very important for us to get closer to the culture of China from a business perspective.
"China may have been perceived as a challenging country for expats to enter, but it is becoming less so - major cities like Beijing and Shanghai have undergone significant changes and are considered very cosmopolitan."