In terms of popularity as an expat destination, there can be no doubt that 2015 was Singapore’s time to shine. Taking the coveted crown as the number one hotspot in the world for expats to live and work, according to the HSBC Expat Explorer Survey 2015, the Asian Tiger emerged as the best destination for an overall improvement in quality of life.
Of course, what equates to an improved quality of life can be somewhat subjective. Factors such as financial well-being, career prospects and the quality of education can all take on a different level of priority depending on an individual’s specific set of circumstances. However, the HSBC annual survey collates the responses from 21,950 expats living all over the world, giving us the best possible picture of what life is really like in a country and rating each country on the full spectrum of factors that make up the expat experience.
So, how did Singapore shape up? Not only did it land the top spot for overall improved quality of life, the city-state was ranked second in the world to the reigning champion, Switzerland, in the Economics League Table. Singapore has long been considered a top destination for career-minded expats, particularly when it comes to banking, insurance and the financial services (30% of expats in Singapore work in these areas). It is also an attractive place for those looking to further their skills and raise their wages – 59% of respondents agree the city-state is good for advancing careers and 53% find the opportunities for acquiring new skills are better than in their home countries.
As well as the potential for career progression, the survey suggests that expats in Singapore can expect to enjoy higher earnings – the average expat salary in Singapore is USD159,000 pa (approx. £111,870) well above the global average of USD104,000 (approx. £73,166). Consequently, 65% of expats report a higher level of disposable income than they might have enjoyed at home and 60% feel they have the ability to save more.
But as we all know, the life of an expat isn’t all work and no play. Or at least, it shouldn’t be. Fortunately, Singapore is a strong contender in the lighter side of life too with over half of expats (55%) reporting an increase in physical activity since the move – probably due to the fact that the range of activities on offer in the city-state are vast and varied. Watersports, team games and a ‘Snow City’ which offers the chance to participate in winter sports despite the sunshine outside, are all on offer in Singapore providing excellent opportunities to remain fit and healthy as well as indulge in plenty of family friendly fun.
Speaking of families, if you’re thinking of moving to Singapore with children, the city-state also rated in the top three of the Family League Table, just behind Switzerland and New Zealand. Nearly two thirds of expat parents (65%) reported an improvement to their children’s health and well-being while a whopping 87% applauded Singapore’s high levels of personal safety.
The HSBC Expat Explorer Survey identified New Zealand, Sweden, Bahrain and Germany as the other top five destinations in the world, as rated by expats. Long time favourites Canada, Australia, Switzerland and the United Arab Emirates also made the top ten.
If you are considering a moving to Singapore, Cadogan Tate will assist you every step of the way – from your first enquiry to unpacking at your new home, we are here to help and advise you. For more details about Cadogan Tate’s specialist international removals services from London, click here.
Information correct at time of publication.