Singapore best country for wealthy expats, says survey

PropertyGuru

10 October 2012 at 6:46 am

by Romesh Navaratnarajah Singapore is the best place to work and live in for affluent expatriates, according to a recent survey by HSBC Bank.

Among 30 countries, expats ranked Singapore as the top place to live in based on economic factors such as earning power, ability to accumulate luxuries and disposable income. The city-state is followed by Thailand and Cayman Islands, reported the Straits Times.

According to the survey, the disposable income of 44 percent of the respondents had increased by 50 percent or more after they had relocated to Singapore.

The study, which polled more than 5,000 expats from 100 countries, also found that 54 percent of the expats in the country earns over US$200,000 (S$246,000) each year.

Moreover, around 76 percent of the expats living in Singapore claimed they are experiencing a better quality of life after they have relocated here. As such, the city-state was ranked highly for its quality of life, taking second place in Asia and fourth overall.

Paul Arrowsmith, Head of Retail Banking and Wealth Management at HSBC Singapore, said the report showed that Singapore "is fast becoming an all-round expat destination for career progression, financial rewards and quality of life."

However, the report highlighted a worrying trend that expats are not integrating well in Singapore. Only 19 percent said that they have integrated well into the local community, while 41 percent prefer to socialise with other expats rather than locals. Related Stories: *Scape undergoing S$500k renovation JLL reveals hotel hot spots across Asia Ascott wins top honours

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