Singapore is the top destination for expatriates

Singapore city: iStock/nattanan726

Singapore is the best overall destination for expatriates, according to research by HSBC.

Its 2016 Expat explorer report, which surveyed 26,871 expatriates in 45 host countries, also found that 62% of respondents who move to Singapore experience an increase in earnings.

The research also found:

  • 67% of respondents receive benefits as part of their expat package, with Saudi Arabia (95%), Egypt (94%), Oman (94%), Kenya (93%), and Qatar (93%) in the top five destinations for benefits.
  • 56% of respondents have more disposable income after moving abroad to work, and 53% are able to save more of their income.
  • 52% of respondents believe their quality of life has improved upon moving abroad for work.
  • 40% of respondents feel that moving abroad has accelerated their progress towards saving for retirement, and 41% say the move has helped them save towards buying a property.
  • 49% of millennial respondents feel more fulfilled at work abroad than in their home country.
  • 66% of respondents based in Singapore believe it offers a better quality of life than their home country.
  • 73% of respondents who move to Switzerland have more disposable income there than in their home country, and 71% are able to save more of their income.
  • 73% of respondents who move to New Zealand to work believe their quality of life has improved.

The top 10 best overall destinations for expats are:

  1. Singapore
  2. New Zealand
  3. Canada
  4. Czech Republic
  5. Switzerland
  6. Norway
  7. Austria
  8. Sweden
  9. Bahrain
  10. Germany

Dean Blackburn, head of HSBC Expat at HSBC, 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.”