SINGAPORE - Singapore has emerged as the top place for wealthy expatriates to live and work in, a new survey by HSBC Bank has shown.
Expats in the survey ranked Singapore first out of 30 countries based on economic factors such as earning power, disposable income and ability to accumulate luxuries.
Thailand was in the second spot, followed by Cayman Islands in third place.
About 44 per cent of respondents said they saw a 50 per cent or more increase in their disposable income after they relocated to Singapore, the report said.
The report, which surveyed more than 5,000 expats in 100 countries, also said that 54 per cent of expats here earned more than US$200,000 (S$246,000) a year.
They also ranked Singapore highly for its quality of life, placing the Republic fourth overall, especially for its safe environment in which to bring up children.
Singapore was ranked second in Asia, after Thailand, for quality of life. About 76 per cent of expats in the Republic say they are experiencing a better quality of life after relocating here.
Mr 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".
But the report also flagged the worrying trend of expats not integrating well in Singapore.
Just 19 per cent here strongly agree that they have integrated well into the local community, while 41 per cent strongly agree that they tend to socialise with other expats rather than locals.
Human resource analysts said the survey did not seem to be fully representative of the expat population here.
They noted that the sample size of expats for the survey here was just 54.
And Mr Phil Stanley, Mercer's Asia-Pacific global mobility centre of excellence leader, said that of the respondents, 46 per cent were from the banking industry.
"The other reason could simply be due to the profile of the individuals targeted to participate in this survey, who may be those at higher income levels," he said.
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