Rich expats rank Singapore the best place to live and work, according to a survey by HSBC Expat Explorer.
Financially, expats in Singapore earn the highest in the world at an average of US$159,000 a year as compared to the global average of US$104,000 a year. 65% said they have greater disposable income and 60% said they are able to save more as compared to where they were at their home country. Only 16% said they saved lesser in Singapore. As Singapore has the lowest income tax among the developed countries, these expats take home more cash as compared to countries like Australia and New Zealand.
In quality of life, 67% of the Singapore expats said they now enjoy a better quality of life. 65% of them also said the health and well-being of their children and themselves have also improved. 87% also praised Singapore for being a safe country.
While Singapore may be number one in the hearts of rich foreign expats, the country may not be so for the vast majority of Singaporeans who have to serve National Service, pay CPF and earn wages below global market rate.