According to new information released by HSBC in the annual Expat Explorer report that they have release for the past 10 years, Singapore is still the world’s best overall destination for expatriates for the third year running, even if Switzerland is where ex-pats are able to command the highest salaries.
This isn’t news to anyone that’s been paying attention to the global community, as ex-pats from all over the world have been flooding to Singapore for a number of different reasons – economic as well as quality-of-life reason – for decades now, but it is surprising that they’ve been able to have such a chokehold on the top spot with no other nations around the world able to rock them from their position.
Norway is the closest contender, with New Zealand coming in third, Germany in fourth, and Netherlands, but none of them are able to actually compete with everything that Singapore is able to offer – at least according to those that are leaving they are “home countries” in trying to lay down roots somewhere else in the global community.
More than 46 different worldwide economies and nations were stacked up against one another in this review, and more than 100 survey questions asked of more than 100,000 people the world over shine a pretty significant amount of light on the subject and really makes these results so rocksolid.
Nearly ¾ of all the ex-pats pulled in Singapore said that this nation and city offers better earning potential then the nation that they left, and nearly 42% of all ex-pats that have come to Singapore report that they’ve been able to almost double their income with many of them earning $100,000 US or more infields that they wouldn’t have ever been able to make that kind of money in back home.
At the same time, ex-pats in Singapore definitely agree that life in Singapore isn’t quite as inexpensive as it is throughout the rest of Southeast Asia or in other popular spots on the HSBC list, either. Nearly 40% say that raising a family in Singapore is very expensive, with 9 in 10 parents saying that childcare in Singapore is more expensive here than it is back home.
At the same time, only about 26% of parents feel that the education their children would have received back home would have been better or even just at least as good as the education their children Singapore which balances things out quite a bit.
Sure, Switzerland definitely offers a significant bump in pay compared to ex-pats that flocked to Singapore (with some in Switzerland reporting that they are making $150,000 or more work they would have only been able to make $100,000 for in Singapore), but on the whole people are happy with the mix of opportunity, education, and quality of life that Singapore offers that Switzerland is not able to.
There’s no telling how the top five spots for nations attractive to ex-pats is going to shake out in the years to come, but it’s likely that Singapore is going to continue to be the top spot or at least near the very top of that list for the foreseeable future.