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A degree gives you mobility. With a recognised degree you can apply to jobs with larger MNCs in & outside of Spore. It is also easier to emigrate with one especially if it is from the same country where you got the degree from.
Yeah I used to think that way too and when I wanted to emigrate I started on the journey by collating all my work experience and qualifications for my PR application.
However when I explored the immigration booklet that I picked up from the embassy (no downloadable versions in those days), I suddenly realised that it was far easier to simply gain PR as a business migrant. I transferred the required sum and the rest is history.
Money gives you far more mobility than a degree ever will.