Singapore is top destination in the world for expats: Survey

Expats ranked Singapore the top destination in the world, ahead of Australia, Canada and Switzerland, according to an HSBC survey.

SINGAPORE: Expats ranked Singapore the top destination in the world for them as it provides the right balance of career opportunities, lifestyle, and a stable economy, according to a HSBC survey released on Wednesday (Sep 23).

The HSBC Expat Explorer placed Singapore ahead of countries like New Zealand, Sweden, Germany and Australia. It polled 21,950 respondents from 39 countries, and asked them to rank countries based on career prospects, financial well-being, quality of life, and ease of settling for partners and children.

The city-state also scored the highest when it comes to confidence in its economy. A total of 79 per cent of expats in Singapore are confident about its economy, compared to a global average of 48 per cent.

Additionally, 59 per cent of the expats believe Singapore is a good place for their career advancement and 53 per cent believe they are able to acquire new skills more in Singapore than at home.

65 per cent of them feel that their children’s health and well-being have improved since they moved to Singapore.

The expats felt that Singapore offers better quality education for their children, “even though it is more expensive”.

The survey also said that Singapore “is a great destination for entrepreneurs”, with 87 per cent of them agreeing that it is a good place to start a new business.

Matthew Colebrook, head of Retail Banking and Wealth Management at HSBC Singapore, said: “Singapore has worked hard to position itself as attractive for business. It is pleasing to see that its economic and political stability and general pro-business approach is being recognised by entrepreneurs globally.”