Singapore loses No 1 rank as expat destination
After holding the top spot for the past two years, Singapore has fallen to third place in an annual global survey on the most desirable countries for expatriates to work and live in, Channel News Asia reported.
The nation lost its crown in the recently released Expat Explorer survey by HSBC and fell behind China and Germany amid concerns among respondents over job market security, integration with locals and the rising cost of living.
In particular, more than half the respondents in Singapore – compared to a global average of 39 per cent – cited job security as one of the top three threats to their financial well-being and confidence, said the report, which polled 228 expats in the city state.
The report, now in its sixth year, questioned 7,004 expats across nearly 100 countries from April 29 to June 11 and factored four criteria – economics, experience, raising children abroad and expenses.
Singapore has been tightening its foreign labour policies in recent years. Under the Fair Consideration Framework announced in September 2013, employers are required, from August 2014, to advertise job vacancies to Singaporeans for 14 days before they can turn to Employment Pass holders.
Singapore also fared poorly when it came to expats integrating into the local community – ranking 26th out of 37 countries. The survey also showed that 65 per cent of Singapore expats said they were spending more on groceries in 2013, while 63 per cent pointed to the higher costs of public transport and housing. Education and childcare are also seen as expensive, but nearly eight in 10 appreciated Singapore’s quality of education.
After holding the top spot for the past two years, Singapore has fallen to third place in an annual global survey on the most desirable countries for expatriates to work and live in, Channel News Asia reported. The nation lost its crown in the recently released Expat Explorer survey by HSBC and fell behind China and Germany amid concerns among respondents over job market security, integration with locals and the rising cost of living. In particular, more than half the respondents in Singapore - compared to a global average of 39 per cent - cited job security as one of...
After holding the top spot for the past two years, Singapore has fallen to third place in an annual global survey on the most desirable countries for expatriates to work and live in, Channel News Asia reported.
The nation lost its crown in the recently released Expat Explorer survey by HSBC and fell behind China and Germany amid concerns among respondents over job market security, integration with locals and the rising cost of living.
In particular, more than half the respondents in Singapore – compared to a global average of 39 per cent – cited job security as one of the top three threats to their financial well-being and confidence, said the report, which polled 228 expats in the city state.
The report, now in its sixth year, questioned 7,004 expats across nearly 100 countries from April 29 to June 11 and factored four criteria – economics, experience, raising children abroad and expenses.
Singapore has been tightening its foreign labour policies in recent years. Under the Fair Consideration Framework announced in September 2013, employers are required, from August 2014, to advertise job vacancies to Singaporeans for 14 days before they can turn to Employment Pass holders.
Singapore also fared poorly when it came to expats integrating into the local community – ranking 26th out of 37 countries. The survey also showed that 65 per cent of Singapore expats said they were spending more on groceries in 2013, while 63 per cent pointed to the higher costs of public transport and housing. Education and childcare are also seen as expensive, but nearly eight in 10 appreciated Singapore’s quality of education.
