Singapore tops expat income

Singapore is home to the largest proportion of high-earning expatriates compared to 24 other countries and cities, a new global survey shows. Nearly half the number of expats – 45 per cent – living and working here are earning more than US$200,000 (S$265,000) annually, compared to the worldwide average of 21 per cent, according to the Expat Explorer Survey conducted by HSBC Bank.

According to a paper on household income trends released by the Singapore Department of Statistics last month, the average annual income of the top 10 per cent of employed Singapore households from work was about $265,000. This means that less than 10 per cent of employed Singapore households earn $265,000 or more.

The HSBC figure puts expats in Singapore ahead of their counterparts in other countries and cities such as Russia, China, the Philippines, Malaysia and Hong Kong. The bank said the annual poll – which interviewed more than 4,217 respondents – is the world’s largest survey of expatriates. Last year, in the same survey, Singapore was ranked fourth out of 26 countries and cities when it came to expat income.