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HSBC’s annual Expat Explorer study analyses the views of over 22,000 expats around the world, based on economics, experience and family life. Released at the end of 2018, the results found Singapore to be the expat destination of choice for the fourth year running.
The global report looks at how expats feel about living overseas by examining various aspects of expat life, including family dynamics, their experiences and the economy. The findings from countries all over the world are then ranked against each other.
The overall rankings saw Singapore at the top, closely followed by New Zealand in second place, Germany in third, Canada in fourth and Bahrain in fifth.
It would appear Singapore is a very special place indeed, but what has it got to offer expats? What is it about Singapore that keeps it claiming the top spot year on year?
Based on the expat report, it seems the destination provides many desirable expat benefits. With a strong and stable economy being a clear factor, nearly half of those surveyed stated they moved to Singapore to progress their careers.
A further 38% were motivated to move to improve their earning potential and its clear why, with the average income almost three times more than the global average.
So, is it all about the financial prospects or is their more on offer for expats in this nation?
The tropical climate is surely a draw but could it be the overall high quality of life on offer? Regardless of age, gender, career or nationality, the report found many other aspects of expat life in Singapore to be enjoyable. A combination of factors were accessed – work, family, social, wellbeing and economic – which all ranked highly for expat life.
The diversity of its residents, vibrant and social culture, safe and secure environment are all on offer in this unique metropolis. Furthermore, it would appear family life in Singapore is of an extremely high quality, with expat children receiving world class education and 60% of expat parents believing their children are happier and healthier in Singapore compared to their home countries.
What more could expat families want from their life abroad? Perhaps it is less about why you should move to Singapore and more about why you haven’t already?
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Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.