Becoming an expatriate is an exciting chance to take your career in a new direction. There are millions of expats around the world, enjoying the business opportunities, vibrant cultures, and new experiences that come with working abroad. Could you be one of them?

Singapore is at the top of the wish lists of many expats in Asia. This guide explores why Singapore is such a popular destination for expats looking to build a once-in-a-lifetime career in Asia, and what you need to consider before moving there.

Expatriates in Singapore

Singapore is a welcoming place for expats, especially professional individuals with plenty of expertise to offer. As of 2020, there were 2.52 million immigrants which is roughly 44% of the total population. The culture is incredibly diverse! 

The average annual earnings in Singapore are comparable with those in the United States, but for middle managers and executive positions, salaries in Singapore are far higher.

With many expatriates moving to the neighborhoods of Central Orchard, Woodlands, Sentosa Cove, and Holland Village, there is a wonderful community spirit too. You are sure to feel comfortable, even if you don’t learn Singapore’s most common language Malay (which is an easy Asian language to learn), as a relatively high standard of English is spoken across many sectors of society.

5 Reasons to Choose Singapore for Your Career

Singapore is ranked highly as one of the best expat countries, along with Denmark, Thailand and Germany, according to a platform for expatriates and international travellers. What leads to high numbers of expatriates in Singapore is the prosperity that enables them to enjoy an unparalleled quality of life.

1. Diverse Career Opportunities

Singapore is best known for being pro-business. As a result, you can find corporations in Singapore from virtually every industry. Whether you are a marketing specialist, an executive manager, or have experience in software, engineering, or technology, you can have the chance to see good job opportunities somewhere in Singapore. Dental hygienists, high school teachers, copywriters, personal trainers, clinic receptionists, and so many more roles are available. It’s a wonderful place for professionals at all levels.

2. A Great Economy

Singapore is often described as a prosperous place. In the past 60 years, it has become one of the strongest economies in Asia. In fact, in the last 20 years alone, its GDP per person has doubled. In addition, its tax rates are among some of the lowest in the world.
For expats, this makes Singapore attractive as a place to put down roots. The quality of life is exceptional, and the business opportunities are fantastic too. Economists surveyed by The Straits Times described Singapore’s economic outlook for 2024 as better than expected, despite high interest rates causing havoc in the West.

3. Asia's Business Hub

The location, high reporting standards, and reputation for stability have turned Singapore into the business hub of Asia, according to The Financial Times.

Not only does Singapore have a great airport with links that can take you around Asia, Australia, and the Middle East, from Tokyo to Dubai, but it’s also a huge draw to businesses looking to start a base in the Asian markets.

Maintaining a neutral stance between the US and China has made it very attractive to startups and multinational corporations alike. By basing a business in Singapore, they are set to avoid the worst of geopolitical disruptions.

For expats, this provides better financial security and stability. If you are looking to build a long-term career, Singapore is a highly sought-after option in Asia to do so.

4. Multinational Corporations

You might be surprised by the number of corporations with offices and headquarters in Singapore. With its thriving economy, Singapore houses these incredibly successful mega corporations:

• Trafigura, commodities trading, annual revenue of US$244.3 billion.
• DBS Group Holdings, banking and financial services, market cap of US$68.85 billion.
• United Overseas Bank, banking, market cap of US$36.54 billion.
• Sea Limited, technology conglomerate, market cap of US$30.98 billion.
• Wilmar International, agribusiness, valued at US$16.23 billion.

Other multinational corporation names you will recognise include Amazon, Citibank, and JPMorgan Chase. Working for a multinational corporation has fantastic benefits for expatriates in Singapore, as the company culture is often geared towards employing talent from around the world. You may also have the opportunity to travel or move to another location outside of Singapore, while still working for the same corporation.

As Singapore itself is a business hub in Asia, you may also find job opportunities at these corporations:

• Singapore Exchange, financial services, market cap of US$7.85 billion.
• Genting Singapore, travel and leisure, market cap of US$8.28 billion.
• Singapore Technologies Engineering, mechanical and industrial engineering, market cap of US$9.24 billion.
• Singapore Airlines, aviation, market cap of US$14.22 billion.
• Singapore Telecommunications, communication technology, market cap of US$31.18 billion.

Figures for market caps and valuations verified by Yahoo and Insider Monkey, as of 22 March 2024.

5. Generous Salaries

At first glance, the average annual salary in Singapore of SGD 55,000 (roughly USD 40,000) isn’t great compared to the US average of USD 55,640. But let’s take a closer look.

Here are some of the common roles you may find:

• Architect - SGD 75,000 (roughly USD 53,600).
• Marketing Manager - SGD 71,000 (roughly USD 50,800).
• Product Manager - SGD 90,000 (roughly USD 64,400).
• Software Engineer - SGD 57,000 (roughly USD 40,800).
• Teacher (High School) - SGD 60,000 (roughly USD 43,000).

More noteworthy, however, are the mid-level roles that are often taken up by expats in Singapore. The average annual salary for middle managers in Singapore was SGD 325,000 (roughly USD 235,000) in 2018. Graduates with a Master of Business Administration (MBA) can expect an average salary of SGD 111,000 (roughly USD 81,000).

Is Singapore Worth It? Pros and Cons

Business is one of the biggest reasons expats choose Singapore for their careers. But moving your entire life to Singapore is about more than just business. Here are some key pros and cons that may be important to think about, especially if you are relocating with your family.

Pros

• Singapore has great international schools for expat children, including private schools.
• Healthcare is widely available with a huge range of hospitals, clinics, and pharmacies.
• Crime rates are rock bottom – this is a very safe country to live in.
• Travel is exceptionally easy, with great infrastructure in Singapore and airports to take you around Asia and beyond.

Cons

• The seasons don’t change, so there’s little break from the heat and humidity. Thankfully, air conditioning is easily available!
• Space is limited so most accommodation is in the form of condos or apartments without private gardens.
• Rent can be quite expensive if you’re looking to move close to the city centre.
• Cars are expensive in Singapore, but with great public transport getting to work on time is simple even if you decide to live in the suburbs.

Summary

Moving to Singapore is a very attractive proposition, with fantastic career opportunities and salaries that recognise and reward your contributions. For highly skilled professionals seeking senior business roles, Singapore is one of the top destinations around the world. Your main considerations when thinking about Singapore as an expat are how your family will fit in and the entry requirements. However, once you are settled in, Singapore offers endless opportunities to take your career and quality of life to new heights.