HSBC’s annual Expat Explorer survey ranks Singapore as the best country for expats.
Singapore has been named the world’s best country for expats for the fourth year in a row.
The results are based on HSBC’s annual Expat Explorer survey, a global survey carried out among 22,318 expats across 163 different countries.
Expats were asked to rate countries based on three different criteria: economic, quality of experience, and family.
Singapore came in first overall, scoring high on its economic appeal. According to the survey, close to half (47 percent) of respondents said they moved to Singapore to advance their career, with expats in the city-state earning an average income of $162,000. This income was $56,000 higher than the global average, according to HSBC.
New Zealand came in second, earning the highest ranking in the quality of experience category thanks to its wide array of outdoor activities.
Germany came in at third place, scoring the second highest rating in economics, followed by Canada and Bahrain in fourth and fifth place, respectively.
Of the 31 countries listed by HSBC (countries that had at least 100 expat respondents and scored highest on each category), about a third were Asian, signaling the huge growth potential of the region.
The United States ranked in just 23rd place, dropping down three spots from 2017. While the US offers almost $80,000 more than the average expat salary, long working hours and difficulty forming social circles were some of the factors that lowered the country’s ranking on the list.