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65% of expats in Singapore see more disposable income upon relocation: survey
CLOSE to two out of every three expatriates here report that they have more disposable income than at home, and three out of every five of them can save more by moving, a survey revealed on Monday.
Together, it places Singapore as one of the top five economies in Asia-Pacific - a region which already sees the highest salaries for expatriates - where the largest proportions of expatriates see higher disposable income and savings upon relocation.
In addition, one out of every five of them says that they can afford to buy another property as a result of moving to Singapore.
These findings are the results of the Expat Explorer survey, commissioned by HSBC Expat and conducted by YouGov. It was completed by 21,950 expats from 198 countries through an online questionnaire in March, April and May 2015.
"The ability to save more, enjoy greater disposable income or acquire real estate assets are all important considerations for expats moving to a new country," noted HSBC.
The survey found that the annual average salary for expats across Asia-Pacific is US$126,000, highest compared to the global average of US$104,000.
According to the findings, 65 per cent of expats in Singapore report greater levels of disposable income, compared to a global average of 57 per cent. Sixty per cent are able to save more, compared to the global average of 52 per cent. This puts Singapore as one of the top five economies here that help expatriates boost their income by relocating. Vietnam, China, Hong Kong and Malaysia round up the top five.
Twenty per cent of the expatriates here say they have been able to buy additional property as a result of moving. The global average is 17 per cent.
The banking sector here - at 30 per cent - here has the largest proportion of expatriates. The next most common sectors would be marketing and telecommunications, both at 10 per cent.
Expatriates from the UK number the most in Singapore, standing at about 28 per cent of the community. Malaysians are next at 16 per cent, and Indonesians take third place with 14 per cent.