Good wages and lower taxes offset the Lion City’s high cost of living.
Australian expats hailed Singapore as the best country to live in thanks to its strong economy and stable political system with 80% open to recommending the Lion City to other expats, according to the Atlas Wealth Management Expat Insights Survey.
With a total score of 71.58, Singapore’s good wages and lower taxes are just a few of its greatest strengths that is more than able to offset the city’s high cost of living. The city ranks as the fourth costliest place for expats in the world,according to a survey by Mercer, although steeper costs of goods and services are offset by equally high salaries and stable economy.
In fact, 82% of expats claimed to have more disposable income in the Lion City than they have in Australia.
“Australian expats have always had a special affinity with Singapore and that was evident in the survey with 70% of participants saying that the country felt like home within two years of moving there,” the report added.
A separate report by ECA International have also crowned Singapore as the most livable city for expats due to its low crime rates, easy access to good quality schools and hospitals and low pollution levels.
The career benefits of moving to Singapore are also positive with over half (56%) admitting that their job in Singapore was more fulfilling than the job they have in Australia and 57% claiming to have acquired new skills that they believe they wouldn’t have been able to gain in their previous country.
It also tops the ‘career destination’ category with 30% moving as part of an employer supported expatriation and 26% relocating to improve their career prospects and 13% following their partners who scored a job.
“Singapore based Australians said the potential to earn a better salary (34%) and the ability to progress their career (26%) were two key ingredients when selecting their reason for working in Singapore,” the report added.
Moreover, the actual logistical process of relocating into Singapore is also relatively smooth with over 60% claiming that financial organisation and looking for accommodation wasn’t at all difficult. More than half (59%) also believe that setting up childcare and schooling for their kids was also easy.
Japan fell short of the crown and flopped to second place due to its weaker performance in the Career category followed by the Netherlands. China and Hong Kong complete the top ten.
The Atlas Wealth Management Expat Insights Survey assesses expat liveability based on four categories including lifestyle, career, financial and family.
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