Reasons Why Foreign Professionals Prefer Working In Singapore

Recently Government of Singapore revised the eligibility criteria for foreign professionals

who want to apply for the employment pass scheme and work in the country. After the amendments were introduced, there were a lot of debate on whether the country would remain attractive for overseas high skilled professionals and there were a number of points in favor and against the new amendments introduced. However, one thing that most analysts agreed upon is the fact that even after the new changes, Singapore still remains one of the most preferred options for foreign professionals. Some of the reasons for this are as follows:

1) Vibrant economy: At the moment when job losses are common in the west, Singapore is actually one of the rare nations still providing excellent job opportunities. Companies in Singapore are optimistic about the future and it is not just the Singaporean economy that is growing quite rapidly, but most nations in Asia have posted excellent growth. Companies in Singapore can expand quite quickly thanks to the vibrant economy, strong consumer confidence and also the fact that companies in Singapore can cater to markets across Asia thanks to its strategic location.

2) High Salaries: Many high skilled professionals in the west have had to take a pay cut to retain their jobs. On the other hand, high skilled professionals in Singapore have been getting pay hikes and bonuses quite regularly barring the year 2008 when the global economic recession was at its peak. Recent surveys have also shown that expats in Singapore earn one of the highest pay-packets in entire Asia and their take home income is higher than expats working in important business hubs such as Hong Kong.

3) Standard of living: It is not just the job opportunities that attract foreign professionals to Singapore. The quality of life is perhaps a bigger attraction for foreigners in the country. Singapore is blessed with a peaceful and harmonious society and boasts of infrastructure that is second to none. The standard of living available in the country is higher than most developed cities in the world and with a growing economy; each and every luxury is on offer in Singapore.

4) Liberal immigration policy: Even though government of Singapore has introduced stricter eligibility criteria for foreign professionals applying for the employment pass, overall the immigration policy of Singapore is still far more liberal than most other nations especially in Asia. Many countries do not encourage immigration at all and many of the emerging economies protect job opportunities for locals. In comparison, Singapores immigration policy seems to be much simpler and it welcomes skilled professionals from all over the world with open arms.

by: Bryan Wong

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