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Here’s why expats love moving to Singapore
Jerene Ang
Talent Experience Forum - a new one-day conference discussing candidate and employee experience, happening in Kuala Lumpur on 23 October
Singapore has retained the crown for the fourth year in a row, edging out New Zealand, Germany, Canada, and Bahrain to be the best place in the world for expats.
According to HSBC’s latest Expat Explorersurvey, the island nation ranked 3rd for ‘economics’, 5th for ‘families’ and 6th for ‘experience’ categories. Now in its 11th year, the HSBC Expat Explorer survey gathered the views of 22,318 expats (including over 500 residing in Singapore) about their experiences abroad, based on that each country is given an Expat Explorer overall score – an average of the ‘economics’, ‘experience’, and ‘family’ scores which covers 27 key criteria from the survey.
Shedding light on why many expats love moving to Singapore, the report noted that the Little Red Dot provided the full package – work, finances, and lifestyle.
In terms of career, 45% of all expats in Singapore (compared to a global average of 35%) said they initially made the move to Singapore for a career opportunity. While another 69% agreed that it’s a good place to progress their career (global average: 56%).
Financially, 38% (global average: 24%) moved to Singapore to improve their earnings, earning an average of USD162,000 (USD56,000 more than the global average). Apart from that, almost half (45%) stated moving to Singapore has enabled them to begin saving to buy a property (global average: 33%), while 59% said it has enabled them to begin saving for retirement (global average: 37%).
When it comes to their personal lives, just under half (45%) of those surveyed in Singapore say they found a long-term partner in the republic. Furthermore, with Singapore considered the best country or territory in the world for education, 60% of expat parents in Singapore (global average: 45%) found their children’s health and well-being to be better here than at home.
Anurag Mathur, head of retail banking and wealth management, HSBC Bank (Singapore), commented in a media release: “It comes as no surprise that Singapore continues to be an expat draw-card. Its well-established international trade and investment links, mature financial markets, and strong economic growth make it an ideal home base for business owners and career-focused professionals to tap the growth opportunities in Asia.
“But the real kicker is the lifestyle. When adding it together, while 19% were initially sent by their employer, but almost half (47%) chose to stay in this safe, well-organised city for its lush, vibrant surroundings and the great quality of life it offers them and their family.”
Jerene Ang
Talent Experience Forum - a new one-day conference discussing candidate and employee experience, happening in Kuala Lumpur on 23 October
Singapore has retained the crown for the fourth year in a row, edging out New Zealand, Germany, Canada, and Bahrain to be the best place in the world for expats.
According to HSBC’s latest Expat Explorersurvey, the island nation ranked 3rd for ‘economics’, 5th for ‘families’ and 6th for ‘experience’ categories. Now in its 11th year, the HSBC Expat Explorer survey gathered the views of 22,318 expats (including over 500 residing in Singapore) about their experiences abroad, based on that each country is given an Expat Explorer overall score – an average of the ‘economics’, ‘experience’, and ‘family’ scores which covers 27 key criteria from the survey.
Shedding light on why many expats love moving to Singapore, the report noted that the Little Red Dot provided the full package – work, finances, and lifestyle.
In terms of career, 45% of all expats in Singapore (compared to a global average of 35%) said they initially made the move to Singapore for a career opportunity. While another 69% agreed that it’s a good place to progress their career (global average: 56%).
Financially, 38% (global average: 24%) moved to Singapore to improve their earnings, earning an average of USD162,000 (USD56,000 more than the global average). Apart from that, almost half (45%) stated moving to Singapore has enabled them to begin saving to buy a property (global average: 33%), while 59% said it has enabled them to begin saving for retirement (global average: 37%).
When it comes to their personal lives, just under half (45%) of those surveyed in Singapore say they found a long-term partner in the republic. Furthermore, with Singapore considered the best country or territory in the world for education, 60% of expat parents in Singapore (global average: 45%) found their children’s health and well-being to be better here than at home.
Anurag Mathur, head of retail banking and wealth management, HSBC Bank (Singapore), commented in a media release: “It comes as no surprise that Singapore continues to be an expat draw-card. Its well-established international trade and investment links, mature financial markets, and strong economic growth make it an ideal home base for business owners and career-focused professionals to tap the growth opportunities in Asia.
“But the real kicker is the lifestyle. When adding it together, while 19% were initially sent by their employer, but almost half (47%) chose to stay in this safe, well-organised city for its lush, vibrant surroundings and the great quality of life it offers them and their family.”
