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SINGAPORE has turned up as the top destination for expatriates in terms of career progression, financial wellbeing and quality of life, according to an HSBC survey.
More than three in five (62 per cent) expats in Singapore said this was a good place to progress their career, with the same percentage of expats saying they enjoy higher earnings after moving to the country, according to the Expat Explorer survey commissioned by HSBC.
The average annual income for expats in Singapore is S$190,000, higher than the global average of S$133,000, while nearly a quarter earn more than S$273,000 - more than twice the global expat average of 11 per cent.
The report found that 56 per cent of expats in Singapore also save faster for their retirement than they would in their own country, compared with 40 per cent globally. Expats in Singapore (52 per cent versus 41 per cent globally) also say that expat life has raised their ability to pick up property.
Overall, 66 per cent of expats say Singapore offers a better quality of life than their home country (compared to 52 per cent of expats globally), while three quarters say the quality of education in Singapore is better than at home, the highest proportion in the world.
HSBC Expat Explorer is the largest and one of the longest-running surveys of expats, with 26,871 respondents from 190 countries and territories (including 533 from Singapore) sharing their views on life abroad including careers, financial wellbeing, quality of life and ease of settling for children.