<Pic credit: Demoncratic Singapore>
Ten things you need to know about our foreign talents:-
1. According to HSBC Expat Explorer 2010, 45% of them earn over $250,000 per annum making them the highest expat earner in the world - global average is just 21%. Maybe they are the ones who have contributed to our high Gini co-efficient ratio here?
2. Key industries for expats in Singapore include finance employing 29 percent of Singapore's expat population, construction and manufacturing. This is not surprising as Singapore is the financial hub for Asia.
3. Roughly 73 percent of expats working in Singapore are aged between 35 and 54.
4. 62 percent of expats polled by HSBC say that they have more disposable income in Singapore than in their country of origin.
5. 72 percent also claim that they spend more on accommodation in Singapore than they did back home.
6. SGD 3,600 will probably be the absolute minimum monthly expenditure for expats to cover their bases in Singapore. Maybe that's why we are shocked to see many junior bankers earning $10,000/month and above or else they won't relocate?
7. After holding top spot for being the most desirable country to work in for the past two years, Singapore has fallen to third spot this year after China and Germany.
8. The Republic also fared poorly when it came to expats integrating into the local community — ranking 26th out of 37 countries.
9. In particular, more than half the respondents in Singapore — compared to a global average of 39 per cent — cited job security as one of the top three threats to their financial well-being and confidence.
10. 38 percent of our current population comprises of foreigners - both expats and migrant ones.
Gilbert Goh