Singapore takes the top spot in the eighth Expat Explorer country league table, with expatriates praising the opportunities for career development, appealing salaries and an excellent quality of life.
Over a quarter (28%) of expats in Singapore earn more than USD200,000 per annum compared to 13% of expats globally. Fifty-nine per cent say the city-state is a place for career development and 79% are confident about the Singapore economy.
Overall, 67% of expats say Singapore offers a better quality of life than their home country and 65% of parents say their children’s health and wellbeing has improved since moving there.
The Expat Explorer survey is commissioned by HSBC Expat and conducted by YouGov. Now in its eighth year, it is the largest and one of the longest running surveys of expats, with 21,950 respondents sharing their views on different aspects of life abroad including careers, financial wellbeing, quality of life and ease of settling for partners and children. A total of 39 countries qualified for the league tables in this edition.
Expat Explorer also reveals that:
A better quality of life and the desire to take on a new challenge are the main reasons for making a move abroad. In both cases, 37% of expats say these are the reasons why they moved, compared to just over a quarter (26%) that say they did so to improve their job prospects. In fact, 61% of expats haven’t benefited from an immediate salary increase since moving.
Expats are dedicated to experiencing as much as possible during their time abroad and only 11% say they haven’t immersed themselves into their new culture. Destinations where expats are the most likely to have moved to improve their quality of life are New Zealand (71%), Spain (61%) and Portugal (56%).
Expat entrepreneurs blossom in the world’s financial hubs:
The vast majority of expats living in the world’s financial hubs of Singapore, Dubai, Hong Kong or London agree they are good places to start a new business (87%, 86%, 85% and 85% respectively). This is much higher than the global average of 56%2.
A high level of confidence in the local economy is another reason why these economic hubs suit the entrepreneurial spirit: 78% of expats in Singapore and 60% in Hong Kong feel confident about the local economy.
The opportunity to broaden their skillset is a further upside for expat entrepreneurs who have settled in one of these cities: 64% of expats in London have acquired new skills since moving, compared to 43% globally.
Dean Blackburn, Head of HSBC Expat, comments, “Living abroad allows people to realise a whole range of ambitions. Learning new skills, enjoying a different culture or growing closer to loved ones through a shared adventure: these are just some of the rewards expats tell us they have enjoyed through their time in another country.
“As global mobility continues to increase, expat life is more attainable than ever before. Expats need services that keep up with their changing needs, as managing money overseas remains a challenge. Indeed, 74% tell us their finances have become more complex in some way since moving, which highlights the value of seeking help with this aspect of life.”
For the purposes of our survey, an expatriate as someone over 18 years old who is currently living away from their country of origin/home country.
Top countries for expatriates:
Singapore
New Zealand
Sweden
Bahrain
Germany
Canada
Australia
Taiwan
UAE
Switzerland
