Singapore has largest proportion of high-earning expats

[Watchman]

Singapore has largest proportion of high-earning expats
September 23rd, 2010 | Author: Your Correspondent

According to the Expat Explorer Survey conducted by HSBC Bank, Singapore has the largest proportion of high-earning expatriates, far head of 24 other countries and cities.



45 percent of expats in Singapore earn more than USD$200,000 annually as compared to the global average of 21 percent.

As the annual income of the top ten cent of employed Singapore households was about $265,000, the findings imply that only less than 10 per cent of employed Singapore households earn $265,000 or more.

While the wages of expats continue to grow, the median monthly wages of ordinary Singaporeans has remained stagnant at $2,400 over the last few years.

According to the worldwide study conducted and released by UBS lately, titled “Price and Earnings 2009″, Singaporeans have low domestic wages and purchasing power which is comparable to Third World countries rather than First World ones.

The explosion in expats’ pay can be attributed to Singapore’s “rebound” from the global financial crisis this year. However, the average monthly nominal earnings per employee did not experience the same rise as the expats’ pay:

The mainstream media has been harping on the news to entice more foreigners to come and seek work in Singapore.

The PAP regime’s open-door labor and immigration policies are making Singapore a “paradise” to foreigners, but a “living hell” for locals which may explain why so many PRs are reluctant to take up Singapore citizenship despite continued prodding to do so.

 

[silliporean]

We need to embrace them mudder farkers as SIngaporeans cannot do their job we are not as good as they are so better close down NUS / NTU / SMU because all these Universities cannot produce talents that can do the job.

Am i getting the right picture?