Singapore has been named the best country in the world for expats to live in according to a new survey.
In fact, Asia boasts 10 of the 31 listed countries in HSBC’s new global survey of the best places to be expats.
For the annual report, thousands of expats ranked their adopted home on a range of factors, including economy, lifestyle and education opportunities. Singapore topped the list once again.
According to HSBCs survey, nearly half of expats relocate to Asian countries to improve their career. Those living in Singapore earn an average of $162,000, which is $56,000 more than the global average, making it an obvious location in which to prioritise your career.
New Zealand and Germany came in second and third place, with Germany, Canada and Bahrain completing the top five. Asian, Middle Eastern, North American and European nations were all ranked highly on the list. In contrast, South America and Africa fared badly. Brazil and South Africa were the only two nations to make the list.
Overall, the United States ranked 23rd, falling three spots above Saudi Arabia. However, in terms of economics, it ranked 13th as foreigners were of the opinion that they could make more money in America than in their home countries. However, certain factors such as longer working hours and safety concerns detracted from the country’s overall ranking. In 2016, the country ranked 20th.
However, it is important to consider that the list is focused on HSBC’s own metrics, and this means that their inclusion of low taxes or good school systems may not be those which are of importance to all expats.
The survey was completed by over 22,000 expats living around the world, and was conducted online by YouGov in March and April 2018. For a country to be included they must have received a minimum of 100 expat respondents. This includes at least 30 expat parents. This may potentially disadvantage smaller expat destinations.
Overseas property investors may wish to consider investing in Singapore to take advantage of its popularity to expats.