Expats ranked Singapore the top destination in the world for them as it provides the right balance of career opportunities, lifestyle, and a stable economy, according to a HSBC survey released on Wednesday (Sep 23). Sweden ranks first in the Family league table, Germany, Sweden and Bahrain are among the top 10 countries for Economics, while New Zealand ranks first for Experience.
Part of the world’s largest and longest-running research series on expat life, the latest Expat Explorer report is based on a 2015 survey of 21,950 expats across 198 countries – including 496 respondents in Canada. 79 per cent are confident about its economy compared to a global average of just 48 per cent.
Singapore is followed by New Zealand and Sweden. In Qatar and the United Arab Emirates, 75% and 55% of expats respectively receive an accommodation allowance (compared with 33% globally).
The survey found that more than a quarter (28%) of expats in Singapore earn more than US$200,000 per annum, compared to 13% of expats globally.
Singapore is also judged as one of the best destinations for quality of life.
Singapore also offers a better quality of life overall than in their home country according to 67% of respondents and 65% acknowledge that their children’s health and wellbeing has improved since they have moved. The country’s great outdoors is a particular draw and 57% of expats have become more physically active since moving there.
The bank’s survey, of 22,000 people across the world, reveals insights about living as an expatriate as it relates to family life, the economic benefits and the sheer experience of it. nearly three-quarters (72%) of expat parents surveyed agree their children’s quality of life has improved since relocating, compared to the global average of 58%. The vast majority (87%) of expats praise Singapore’s level of safety.
Singapore climbed up from second to top this year’s rankings, the Expat Explorer overall league table shows.
“Something we value very highly is how friendly locals are towards foreigners and how easy it is to settle in”.
However Switzerland fell down in the other two categories, ranking 26th for experience and 25th for family.
According to the Expat Explorer, more than half (59 percent) of expats believe Singapore is a good place for career advancements and 53 percent believe they are able to acquire new skills more so in Singapore than at home. More than half of expats in Singapore add that it is easy to set up finances (63 per cent) and healthcare (63 per cent). They were asked how they felt about the country or territory they were working in. Rather than living mostly in the expat bubble, experience-hungry expats look for the local culture following their move to the country.