Singapore may hold the dubious title of “most expensive city in the world,” but it remains the most popular place for expats to live and work, according to an annual survey of expats released by HSBC.
Expats praised the city-state for its appealing salaries, career development opportunities and quality of life. And despite the eye-watering cost of living day-to-day in Singapore (including transport costs three-times that of New York), more than a quarter of its expats who responded to the 2015 Expat Explorer survey said they earned more than $200,000 per annum (compared to just 13% of expats globally).
A salary increase or chance to get ahead in a career are often the big incentives to move abroad, but an increasing number of expats are travelling to new countries for personal rather than financial reasons, the HSBC study found. Three in five of the people surveyed said they had not experienced an immediate increase in their pay, but more than half, 53%, said their quality of life had improved after moving.
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