British expatriates have chosen Singapore as the best place to move to for the first time, according to this year’s Quality of Life Index of NatWest International Personal Banking (IPB).
The study reveals that over eight in ten British expats in Singapore (84 per cent) had seen an increase in their overall quality of life since moving to the island nation. A similar number reported an improvement in their health (86 per cent), a nicer, sunnier environment (84 per cent) and better job conditions as the main selling points of the ‘Lion City’.
Interestingly, despite the improved lifestyle, only 9 per cent of expats planned to stay in Singapore permanently, as the majority are there on temporary work assignments.
Dave Isley, head of NatWest International Personal Banking, comments:
“Singapore is clearly a vibrant nation filled with lots of opportunities for career-focused expats. With improved health, beautiful surroundings and bang for your buck, who can blame ambitious Brits for choosing this sunny city state, which stands as a great example that you don’t have to choose between business and pleasure! While destinations such as Australia and Canada are still rated highly by retiree expats, more and more people are making the move abroad with their career in mind, leading to the popularity of countries such as Singapore.”
Singapore has seen a range of tax exemptions and flexible immigration policies put in place by the Government who are keen to appeal to expats, who currently make up 38 per cent of the total population. The key industries for expats in Singapore include finance (employing 29 per cent of its expat population), construction and manufacturing and for people working in these sectors the rewards can be huge. At present, more than half (68 per cent) of expats living in Singapore earn more than £125,000 per annum, compared with the global average of 21 percent.
