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SINGAPORE has the largest proportion of expatriate high earners compared to 24 countries around the world, says a HSBC survey.
The Expat Explorer study by HSBC found that 45 per cent of the expats in Singapore have an annual income of US$200,000 (S$265,000) or more. The worldwide average is 21 per cent.
Overall, Singapore ranks 4th in "expat economics" - a measure of the financial aspects of expat life.
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It is seventh in terms of proportion of expats who have monthly disposable income of US$3,000 or more, and 13th when it comes to the number of luxuries they own, which include items like property, domestic help, cars and boats, holidays, healthcare and swimming pools.
It also found that a large proportion (29 per cent) work in the financial sector. The report carried a quote from a Singapore expat, "OK for [the] short term 24 months to accumulate wealth."
Proportion of expats who are earning more than US$200,000 a year
2010 rank (2009) Country % of expats
1 (4) Singapore 45
2 (2) Russia 40
3 (-) Bermuda 39
4 (3) Hong Kong 36
5 (13) Saudi Arabia 35
Expat Explorer, now in its third year, surveyed 4,127 expats in over 100 countries this year.
According to a paper on household income trends released by the Singapore Department of Statistics last month, less than 10 per cent of employed Singapore households earn $265,000 or more, the Straits Times reported.
