There are many parts of the world that people are drawn to when considering somewhere to live when they are ready to fly the coop and experience more of the world than what their home country has to offer. Switzerland, New Zealand, Germany are all popular destinations, but the location that earned the top spot may come as a surprise to many people.
Singapore now holds the title of best place for expats for two years running now. HSBC’s survey, titled Expat Explorer, looks to bring to light some of the best opportunities for career advancement and overall quality of life for people that are looking for a new home outside their country of residence. It hit all of the important marks used to evaluate the findings, including career and lifestyle categories.
In the survey, an impressive 62% of those currently living as expats in Singapore said that they would call it a good place to live to work your way up the corporate ladder. Perhaps more impressively, about the same percentage stated that they have seen an increase in their earnings since they moved to Singapore. The most common career opportunities for expats in Singapore were in the engineering, information technology, and financial fields
Expats in Singapore earn a median income of $139,000 annually, which is roughly $42,000 higher than the global median for expats. Of those residing in Singapore, 23% report earnings over $200,000 annually, a figure that is sure to entice those looking for career opportunities outside of their home country.
Salary potential aside, many people see an increased quality of life after they make the move, with the survey reporting 66% seeing an improvement after moving. Have a family? That’s no problem at all, as roughly 75% surveyed stated that the education system was better than the system they left behind, which is the largest percentage in the world.
Safety is a very important factor for anyone with a family, especially when they are considering moving to a different part of the world. This is where Singapore really shined, with 84% of expats living there saying that they felt that they were safer there than they did in their original home. This number soars above the global average of only 52%. This is attributed to the low crime rate that Singapore which is likely due to several different factors.
Low Crime Rate
There are various factors that go into the low crime rate of Singapore, but perhaps the most relevant factor is the simple fact that people typically have enough to get by. Crime often stems from desperation, so it makes sense that when people are making enough money to comfortably live there would be less crime in that area.
Singapore is enticing for the young, enterprising business men and women around the world due to its career opportunities and higher-than-average salaries. But it is also an excellent destination for those that are looking to pick up a family and a life they’re accustomed to, and move it to a new location. Whatever your reason for moving to a new part of the world, Singapore has everything covered, and then some!
About Morris Edwards
Morris Edwards is a content writer at companyregistrationinsingapore.com.sg, he writes different topics like Where Singaporean Rich Spend Their Money, Expats in Singapore, Where They Work and What They Do and all topics related to Business, Economy and Company Formation in Singapore.