Singapore has secured the top spot as best overall destination for expatriates, according to HSBC’s recent report, Expat Explorer country league table. The report states, expatriates in Singapore enjoy some of the world’s best financial rewards and career opportunities, while benefiting from an excellent quality of life and a safe, family-friendly environment.
S Ramakrishnan, head of retail banking and wealth management, HSBC India said, “Expats consistently tell us that moving abroad has helped them achieve their ambitions and long-term financial goals, from getting access to better education for their children to buying property or saving more for retirement. Most expats also find that their quality of life has improved since making the move – and that they are integrating well with the local people and culture.”
As per the 27,000 people surveyed by HSBC across 190 countries and territories, Singapore ranked first among the top 10 countries for expats to live and work in; followed by New Zealand, Canada, Czech Republic, Switzerland, Norway, Austria, Sweden, Bahrain and Germany.
The report also revealed key trends among Indians. Almost half (46 per cent) of the non-resident Indian (NRI) population surveyed have moved to another country to improve their earnings; 66 per cent said that the work-life balance in the new country was far better, 64 per cent said that the work culture abroad was superior, 35 per cent moved out of India to improve their quality of life while others moved as they felt that they had better job prospects outside India, 72 per cent of those surveyed own a property in the country they currently live in, 51 per cent felt that they had a better chance of developing new skills abroad. Whereas, 45 per cent said that expat life had accelerated their progress towards saving for children’s educationa and university cost.