Singapore Ranks As Top Destination For Emigrants
Expats have recently ranked Singapore as the most livable city in Asia, according to a recent study by HR consulting firm ECA International. Singapore made it to the top of expat’s list, followed by Australian cities Sydney and Adelaide.
Results of the survey imply that the more livable a city is, the less a company has to pay its employees to influence them to relocate and move abroad. “When a location has good air quality, excellent infrastructure and health care facilities, low crime and health risks — all the attributes Singapore offers — companies are likely to provide just a low allowance or none at all,” said ECA International Asia Regional Director Lee Quane in an interview with the Jakarta Globe.
Singapore’s competitive business environment has made it a leading destination for foreign investors. That’s because the global financial hub offers a lucrative tax scheme at a flat corporate headlining tax rate of 17% for incomes amounting to SG $300,000.
Singapore also protects global companies that have set up their offices in the city with its Double Taxation Avoidance (DTA) treaty.
The island state has also been a premier destination for students and overseas contract workers who wish to further their careers and university degree.
The firm ranked 400 cities across the globe based on basic living standards such as environmental cleanliness, crime rate, and infrastructure. Out of these cities, 49 are Asian cities.
Singapore has ranked on top of ECA’s poll for 11 years straight.
Kobe, Japan ranks next as one of the most livable city in Asia at fifth place. Other Asian cities that have made it higher on the livable cities list were Hong Kong and Tokyo.
Over 20% of the Singapore population is made up of non-Singaporeans. A huge percentage of these expats have come from neighboring Asian countries such as India, China and Malaysia.