4 Reasons Top Foreign Talent Moves to Singapore

Back in June 2016, the time of the latest population survey, Singapore was reported to have a population of 5.61 million people. However, unlike most other countries, foreigners make up an incredibly significant portion of the population. With about 1.67 million non-residents and 0.52 million permanent residents, the number of foreigners is approximately 2/3rds of the citizen population.

While Singapore is not the only country with such a large proportion of foreigners to citizens, with Macau (59%), Monaco (64%), Samoa (71%), United Arab Emirates (71%) and Vatican City (100%) coming to mind, they are definitely the absolute top destination for expats in the financial industry and are a leading country for attracting tech workers as well.

In other industries, Singapore is also a top draw for foreign nationals not just within East and Southeast Asia, but the rest of the world as well. In this piece, we outline just a few of the reasons Singapore attracts so many top talents the world over.

Check out Living in Singapore: A Complete Singapore Expat Guide for a better idea of what to expect in the city-state.

1.) Some of the highest salaries in the world

Singapore has some of the world’s highest wages across nearly every industry, rivaling and exceeding those available in Western Europe and the United States. This is true even when accounting for the cost of living in the city-state, as the take-home income tends to remain high for most foreign workers. This makes Singapore a very attractive option for those who want to save up to start their own business back home.

The other attractive aspect of Singapore’s high salaries is that these will tend to boost the salaries of workers when they move back home or to other countries. This makes Singapore particularly attractive to ambitious young workers who want to retire early.

2.) A top-notch educational system

Workers with families and single workers who want to advance their technical knowledge in their field also find Singapore an incredibly attractive destination thanks to its world-class educational system. Singapore’s citizenry often takes the top spot for literacy and mathematics proficiency rates, rivaled only by Japan in the region. This means workers with children often find Singapore a compelling place to move to because they see that it can give their children a head start in life.

The country is also a regional hub for advanced technical and vocational training that are otherwise unavailable in most countries around the world. Workers who want to improve their knowledge in their field are often attracted to Singapore for this very reason.

3.) World-leading healthcare

While healthcare for foreigners who are not permanent residents is not cheap by any means, it is still the best in Southeast Asia and among the best in the world when it comes to creating positive outcomes for patients. Citizens and foreign residents can also enjoy large subsidies on their healthcare when they use public hospitals and medical facilities.

Taken together, this makes Singapore a desired destination for talented workers with special medical needs that want to stay in the workforce but still be able to get top-notch treatment for their condition. However, if you’re a non-resident, medical procedures can be incredibly expensive, so it’s advisable to get international health insurance from a specialized insurer such as Now Health International if you’re planning to work in Singapore.

4.) The best quality of living in the region

With a low crime-rate (the lowest in the world), incredible cuisine, and a thriving culture and arts scene, all within an easy commute wherever you are in the country, Singapore definitely has plenty to offer foreign workers who want something more than what they’ve been accustomed to back home. There are some drawbacks with regards to some freedoms that those who grew up in a Western-style democracy might not be comfortable with, but overwhelmingly, most foreign workers have had incredibly positive experiences in Singapore.

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