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[h=2]Growing popularity of Singapore with expats[/h]
October 28th, 2012 |
Author: Editorial
But they won’t sink roots in Singapore and don’t integrate well with our locals…
According to a recent survey by HSBC Expat Explorer Survey 2012 [Link], Singapore has the largest proportion of wealthy expats of any country in the world.
43% of the expats in Singapore interviewed said they earned more than US$250,000 (S$305,000) a year, compared to a global average of 7%.
In terms of Expat Economics, Singapore again came out top. Expat Economics looks at a range of factors including expat earning levels, spending, saving and investing patterns, and the impact of the current global financial climate to paint an informed picture of expats’ economic situation around the world.
The report stated that Singapore is increasingly becoming a top destination for career hunters and “its popularity as an expat destination appears only to be growing”.
Dean Blackburn, Head of HSBC Expat, said:
However, almost 3/4 of them said they would prefer to go elsewhere for a new posting later on, signifying that most of these expats have no intentions to sink their roots in Singapore. And that means even after giving them PR status, most will have no intention to become a Singaporean. 72% said they moved to Singapore for financial gain while 70% said it was for job opportunities.
76% said that their quality of life had improved upon relocating to Singapore.
Singapore has become so attractive to expats that even 13% of those in Hong Kong named Singapore as their preferred future expat destination.
However, In terms of integrating with the Singaporean local community, expats appear to have trouble integrating. Expats said they find it difficult to integrate with the locals. The percentage of expats who agreed strongly that they had integrated well in the Singaporean local community is only 19%. And that means, 81% failed to integrate well with our locals. This trend is highlighted when looking at the social activity of expats with 41% said they tend to socialise with other expats rather than locals.
Expat Explorer is the world’s largest global survey of expats. Commissioned by HSBC, the survey was conducted by third party research company YouGov. 5,339 expats were questioned through an online survey.
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But they won’t sink roots in Singapore and don’t integrate well with our locals…
43% of the expats in Singapore interviewed said they earned more than US$250,000 (S$305,000) a year, compared to a global average of 7%.
In terms of Expat Economics, Singapore again came out top. Expat Economics looks at a range of factors including expat earning levels, spending, saving and investing patterns, and the impact of the current global financial climate to paint an informed picture of expats’ economic situation around the world.
The report stated that Singapore is increasingly becoming a top destination for career hunters and “its popularity as an expat destination appears only to be growing”.
Dean Blackburn, Head of HSBC Expat, said:
“Asia is increasingly coming to the fore as a top destination for both financial opportunity and life experiences. While the region has historically been a popular choice for those looking for increased quality of life, the dominance of Asian countries at the top of this year’s Expat Explorer Economics league table highlights that it is fast becoming an all-round top expat destination – especially Singapore, which ranks well as a place for career progression and financial gain as well as quality of life factors, demonstrating that the country delivers across numerous elements of expat life.”
According to the report, financial incentives and job opportunities are the main reasons for expats moving to Singapore with almost three quarters (74%) witnessing an improvement in the financial status of their household, and 80% noticing an increase in disposable income upon locating to Singapore.
However, almost 3/4 of them said they would prefer to go elsewhere for a new posting later on, signifying that most of these expats have no intentions to sink their roots in Singapore. And that means even after giving them PR status, most will have no intention to become a Singaporean. 72% said they moved to Singapore for financial gain while 70% said it was for job opportunities.
76% said that their quality of life had improved upon relocating to Singapore.
Singapore has become so attractive to expats that even 13% of those in Hong Kong named Singapore as their preferred future expat destination.
However, In terms of integrating with the Singaporean local community, expats appear to have trouble integrating. Expats said they find it difficult to integrate with the locals. The percentage of expats who agreed strongly that they had integrated well in the Singaporean local community is only 19%. And that means, 81% failed to integrate well with our locals. This trend is highlighted when looking at the social activity of expats with 41% said they tend to socialise with other expats rather than locals.
Expat Explorer is the world’s largest global survey of expats. Commissioned by HSBC, the survey was conducted by third party research company YouGov. 5,339 expats were questioned through an online survey.
.
Join our TRE facebook page here: http://www.facebook.com/TREmeritus
