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Singapore is top destination for global expats, finds HSBC report

Wednesday, September 23, 2015 - 14:22
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Singapore is the top destination for expatriates globally as it provides the right balance of career opportunities and lifestyle, as well as a stable economy, according to HSBC's latest Expat Explorer report.

SINGAPORE is the top destination for expatriates globally as it provides the right balance of career opportunities and lifestyle, as well as a stable economy, according to HSBC's latest Expat Explorer report.

The report sought the views of 21,950 respondents from 39 countries, asking them to rank countries based on career prospects, financial well-being, quality of life and ease of settling for partners and children.

Singapore came in top based on its rankings amongst the three broad categories of economics, experience and family.

More than half (59 per cent) of expats believe Singapore is a good place for career advancements, and 53 per cent believe they are able to acquire new skills more so in Singapore than at home.

Singapore also offers a better quality of life than their home countries, according to 67 per cent of respondents, and 65 per cent acknowledge that their children's health and well-being have improved since they have moved.

Expats surveyed say that Singapore offers better quality education for their children even though it is more expensive. More than half of expats in Singapore add that it is easy to set up finances (63 per cent) and healthcare (63 per cent). Seventy-five per cent of expats say their social life is either just as active, or more so than at home, and 57 per cent also say they find it easy to adapt to the local culture.

The report also found that Singapore is appealing to entrepreneurs seeking to start up a business abroad. Some 87 per cent of expats living in Singapore acknowledge it is a good place to start a new business, which is much higher than the global average of 56 per cent.

Singapore's regulatory environment also allows entrepreneurs to start a small business in a mere few days. Moreover, confidence in Singapore's economy is the highest compared to all other countries. More than seven in 10 expats in Singapore are confident about its economy, compared to a global average of just 48 per cent.

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