Life’s good, life’s breezy in the Little Red Dot… if you’re an expat, that is. According to the latest annual HSBC Expat Explorer survey, Singapore’s the best country in the world to live and work in, where expats enjoy a high quality of life and confidence in the local economy.
Claiming the top spot for the third year straight, Singapore has been rated a better destination than the likes of Norway (#2), New Zealand (#3), Germany (#4) and the Netherlands (#5). Attributes such as a strong economy, impressive track record for families and confidence in financial affairs and safety push Singapore to the top of the list.
Three quarters of the expats surveyed noted that they have better earnings potential here than in their home country, with a whopping 42 percent increase in their annual income since their relocation. On average, they earn nearly US$118,000 — way higher than the average global expat income (US$18,000).
But as many locals have learnt to accept since young, a good life in Singapore comes at a very steep price. Expat parents, in particular, find that the cost of raising children in Singapore is more expensive than in their home countries. Despite living in one of the most expensive cities in the world, many expats noted that they have more disposable income here than they did back home.
On the flip side, Singaporean nationals abroad are also enjoying life outside their home country. About 70 percent of Singaporeans abroad say that their work/life balance is much better than it was at home, while 42 percent of the people surveyed say their social life is better overseas too.
