S’pore best place for expats to live, work: Poll
Singapore emerged for the fourth year in a row as the best place for expatriates to live and work, coming ahead of countries such as New Zealand, Germany and Canada in an annual survey conducted by HSBC.
But the highest expat salaries are found in Switzerland, the US and Hong Kong – according to HSBC’s latest annual Expat Explorer survey which polled 22,318 expats, including over 500 living in Singapore.
Expats here earned on average US$162,000 (S$223,000), US$56,000 more than the global average – placing Singapore fourth for expat salaries.
Switzerland was again top for expat pay, its average of US$202,900 was twice the global average. But as the best place to live and work, Switzerland ranked eighth because of the high cost of raising children and difficulty in making friends.
In the survey’s three main categories, Singapore ranked third for “economics”, fifth for “families” and sixth for “experience”.
Some 45 per cent surveyed in Singapore moved here for their careers, higher than the global average of 35 per cent, while 38 per cent did so for earnings (global average is 24 per cent).
The poll also found that 59 per cent who moved to Singapore said doing so enabled them to begin saving for retirement versus the global average of 37 per cent, while almost half (45 per cent) could save enough to buy a property (global average is 33 per cent).
Half of the expats in Singapore said they could not afford to buy property here.
When it comes to their personal lives, just under half (45 per cent) of expats surveyed in Singapore said they found a long-term partner here.
As for family benefits, 60 per cent of expat parents in Singapore, against a global average of 45 per cent, found their children’s health and well-being to be better here than at home.
– ANN WILLIAMS