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Fact #1: Low cost of living and working in Singapore

The low cost of living and working in Singapore makes it easier for expats to save more of their income, making them the highest paid in the world, based on the amount of disposable income leftover after taxes, household and necessary expenditures.

Fact #2: Singapore’s financial markets are flourishing

Singapore is known for its superior quality of life and flourishing financial markets, which factors into migratory expats’ decision-making. An increase in the number of wealthy expats in the country leads to higher amounts of spending, which in turn helps to stimulate the economy more

Fact #3: There is greater demand for start-ups, which leads to demand for more talent

According to Deal Street Asia, the environment in Singapore is conducive towards start-ups, which leads them to relocate their headquarters to the island city-state and outsource their manpower to their home country instead. This is because Singapore has a more developed eco-system of start-up funding, such as lower corporate taxes, a simpler tax code, less compliance norms, and higher ease of doing business.

Fact #4: Expats working in Singapore are paid more for their skills

With Singapore’s burgeoning financial markets, it’s only expected that expats working in Singapore will see higher pay. According to the 8th edition of the Expat Explorer survey released on 21 December 2015 quoted by The Strait Times here, 65 per cent of expats in Singapore report greater levels of disposable income (compared to a global average of 57 per cent), and 20 per cent say they have been able to buy additional property as a result of moving (global average is 17 per cent).

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