Expats with a few years of experience in a professional occupation can expect to earn a good salary in Singapore. For companies such as those in the tech sector that attract expats whose skills and experience are in demand, the challenges they face include ensuring that compensation packages are attractive enough. These were some of the conclusions of the latest MyExpatriate Market Pay survey published by ECA International, the world's leading provider of knowledge, information and software for managing and assigning employees worldwide. Globally, Japan surpasses the United Kingdom as the most expensive place to send workers to, with an average expatriate package costing 405,685 US dollars.
Singapore is now the 17th most expensive place in the world for companies to send expats, with an average pay package for a mid-level worker costing companies $225,171 annually. If you want to learn more about salaries in your specific niche, or want to access some detailed salary reports, here are some great resources. By becoming the tenth most expensive place to hire expats, it surpassed countries such as South Korea and Australia. SINGAPORE Cash salaries paid to expats in Singapore remain the fifth highest in the world, according to the MyExpatriate Market Pay survey released by international expat management company ECA International on Wednesday (25 August).
To help companies looking to relocate their staff with the benchmarking of their packages with the market, ECA conducts its annual MyExpatriate Market Pay Survey of salary levels for expatriates around the world, which covers all of the above considerations. Dr. Leong added that there has been a notable increase in the number of expats returning to their home countries during the pandemic, and some face different employment conditions if they continue to work here due to companies tightening their belts. On the other hand, Taiwan opposed the trend seen in many places in Asia, entering for the first time among the ten most expensive places in the world to employ expatriates, as the total cost of expat packages increased in the market.
While expatriate salaries in Hong Kong increased by less than 1%, employers were able to benefit from lower housing costs and reduce the amount of financial support provided for housing compared to the previous year. Combined with its ranking as the place with the best quality of life in the world, these trends serve to increase Singapore's attractiveness for expats looking to move to the region and for companies looking to establish a regional center in the country, given the lower cost of employing expatriate staff, he added.