Singapore is the crowd favourite of expats, according to a study by HSBC. It bested New Zealand, Germany, and Canada, amongst others.
The Expat Explorer survey found that Singapore ranked third in economics, sixth for experience categories and 5th in family indicators. The study also noted that 36% of expats in the city state came from Europe, 32% came from the far east, whilst 13% came from south and central Asia.
“Its [Singapore] well-established international trade and investment links, mature financial markets, and strong economic growth make it an ideal home base for business owners and career-focused professionals to tap the growth opportunities in Asia,” HSBC Bank Singapore head of retail banking and wealth management Anurag Mathur said.
Also read: Singapore is the fifth most popular expat destination: study
Almost half (45%) of them moved to the Lion City to advance their careers. Some were motivated to improve their earnings (38%) and to improve their quality of life (36%).
In terms of work/life balance, more than half thinks that their work/ life balance is the same or worse than it was at home whilst 46% say the levels of stress at work are higher than they experienced in their home market.
For family benefits, 60% of expats believe that their children’s health and wellbeing has improved. However, they are hit by the high cost of living as two in four expats could not afford a home in the city state and have instead bought properties in their home country.