Singapore is ‘sweet spot’ for expatriates

May 14, 2018

Singapore again has been rated by expatriates as the best host country in the world, by the HSBC Expat Explorer survey for 2017.

Expats are professionals, skilled workers or artists who are posted away from their home countries—living and working abroad either temporarily or permanently.

Singapore surpassed competition from Norway, which rose four places between the 2016 and 2017 surveys, to come in second.

Following those two countries in the top ten are New Zealand . Germany, The Netherlands, Canada, Australia, Sweden , Austria, and the United Arab Emirates. The United States ranked as number 27; the United Kingdom, as number 35 on the list.

Culturally very different yet both highly regarded, Singapore and Norway offer expats a stable economic and political environment, while giving them a fulfilling experience and an improved family life, HSBC said. Indeed, 83% of expats feel confident about Singapore’s political stability; and 73%, about the local economy.

Now in its tenth year, the HSBC Expat Explorer survey is the world’s largest and longest-running study of expat life, according to the British multinational banking and financial services company—quizzing more than 27,500 expats about their experience abroad.

As well as unveiling the best places in the world to live as an expat, the survey also found that life abroad typically increases expats’ income by 25%, with the average expat earning just under US$100,000 a year. Expats moving to Singapore report an average 42% increase in their annual income compared to home, to almost US$118,000.

Based on the research findings, 41% of expats adopt a more positive outlook on life after moving abroad, with 44% becoming more physically active.

For expat families, The Netherlands has overtaken Sweden to become the new hotspot—rising nine places in one year. More than three-quarters (76%) of expat parents in the Netherlands say the health and well-being of their children is better than it was at home. Expat parents also praise the quality of education and childcare, with 72% and 65% respectively saying it is better than at home.

Head of HSBC Expat Dean Blackburn commented, “Each year that we conduct the Expat Explorer survey, I am amazed by the diversity of the expat community. From young entrepreneurs and career climbers to families looking for a fresh adventure, there is a destination out there to suit everyone. “

Research contact: rym.saker@hsbc.com

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