According to the BBC, a recent new HSBC report has named Singapore as the best place to live abroad for expats. The survey was conducted by interviewing around 27,000 people who rated 45 countries on subjects such as salaries, experience and family. Results showed that more than 60% of those questioned found Singapore brought them higher earnings and helped their career progress. In this article, let’s discuss why Singapore is one of the best places to live abroad for expats.
According to the survey, the average income of expats is around $97,000 USD, however, in Singapore, expats’ average earnings is $139,000. Besides, about 23% of them earn more than $200,000 USD.
Higher Quality of Education
About 75% of the expats rated the quality of education as better than at home. The main language of instruction in Singapore is English. Singapore’s education system is widely regarded as “world-leading.”
Good Place to Start a Business
58% of the surveyors thought Singapore is an excellent0 place to start a business. Singapore has made starting a business easier by combining tax registration with business registration on a single online form. It is widely known that Singapore is very business friendly and you will have easy access to the entire Asian region.
Healthier Living Environment in Singapore
Singapore is considered as the ‘Happiest country in Asia’ in a study reported by ABC News. Singapore residents and expats appreciate the safe and clean society. According to HSBC, half of the participants felt they were healthier living in Singapore.
Bring International Health Insurance With You
Luckily, the medical facilities in Singapore are excellent, but the cost of care is also extremely expensive. Most expatriates will want to obtain international medical coverage if residing in Singapore. Medical evacuation is recommended along with a plan that provides global medical treatment. A plan that will provide reimbursement for medical expenses via a large network of hospitals is recommended. Many expats should also obtain worldwide life and disability insurance coverage if they live in Singapore.
Here is a list of different types of insurance coverage you will want if you are planning to become an expatriate in Singapore: