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S’pore ranked No 2 among expat destinations

SINGAPORE — The Republic has moved up a notch in an annual ranking of expat destinations by HSBC, claiming the second place globally. This comes after Singapore dropped to the third place from the top spot last year amid concerns over job market security and the rising cost of living.

SINGAPORE — The Republic has moved up a notch in an annual ranking of expat destinations by HSBC, claiming the second place globally. This comes after Singapore dropped to the third place from the top spot last year amid concerns over job market security and the rising cost of living.

In the latest survey, the results of which were released yesterday, Singapore is ranked top in Asia and second in the world after Switzerland.

The Expat Explorer report surveyed close to 9,300 expats from more than 100 countries, including 344 respondents from Singapore who shared their experiences of life abroad and their views of the modern expatriate life in April and May.

Eighty-eight per cent of expats in Singapore expressed confidence in the local economy, saying they are satisfied with its current state. The majority of expats here — 60 per cent — moved here for better job prospects. Sixty-four per cent of them indicated that their disposable income has risen since they moved here, compared with the global average of 53 per cent.

Singapore also rated highly as a place to raise children and most expats surveyed indicated it was easy to fit in with Singaporean culture (71 per cent) and get used to the weather (73 per cent).

However, life in Singapore is expensive. More than three-quarters of expats pay more for their accommodation than they did at home, significantly higher than the global average of 52 per cent. Most also spend more on groceries, healthcare and utilities than in their home countries. In terms of raising children, 87 per cent of expats say that it is more expensive to do so here than at home.

The other countries in the top 10 are China in third place, followed by Germany, Bahrain, New Zealand, Thailand, Taiwan, India and Hong Kong. AMANDA LEE

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