With a fast growing economy and a high standard of living, Singapore is one of the most attractive destinations for expatriate workers.
These foreigners account for one third of the Singaporean population, spreading across all facets of the economy, from labour to service to white collar jobs. Some benefits foreigners receive include open recruitment policies, low personal taxation, and an English speaking environment. The Singaporean economy has been one of sustained growth ever since it gained its’ independence in 1965. Singapore did however experience a recession in 2001, but after several policy changes the economy has since experienced even higher growth than before. Basic wages have also shown an increasing trend in recent years, with the unemployment rate remaining low. Singapore’s workers are dedicated and efficient, and are known for their high levels of productivity and good work attitude.
Manufacturing is the largest sector in Singapore, with electronics making up over half of that sector. Singapore is also rated one of the most business-friendly economies in the world, with lots of opportunities for foreign expatriates in multi-national corporations. Foreigners are an important resource for Singaporean companies across all industries. Opportunities are traditionally available in the following sectors: trade, science and technology, industrial development, tourism, manufacturing, and engineering. High growth industries such as banking and finance and medical services and sciences are beginning to present increased opportunities for foreigners. Other high growth industries in Singapore include: chemicals, communications, healthcare, information technology, and maritime services.