Expat packages not what they were in Singapore
Expat professionals are returning to Singapore after the financial crisis but with a difference: many are no longer being offered the lucrative expat packages or resettlement assistance offered in the past. As companies move to cut costs, as many as tho-thirds of foreigners working in middle management (on salaries averaging $120-150,000 per year) are now hired on conditions matching those of locals, or ‘local plus’ with a few extra perks in housing or education.
They’re also facing increased competition from locals themselves, reports the Straits Times Indonesia. Skill and education levels have increased for Singaporeans in recent years, making them often more attractive economically than their expat counterparts. The local economy has further diversified into specialist markets, increasing opportunities for already resident leaders. The article suggests, however, that it’s not just attractive packages that attract foreigners to Singapore: lifestyle, environment, safety and the city-state’s modern infrastructure are themselves drawcards.
- World Bank Group to open office in Singapore
- Could Indonesia overtake Thailand as an auto manufacturer?
- Singapore tightens conditions for foreign workers
- Singapore may benefit from financial gloom: survey
- Infrastructure, construction boom in Southeast Asia: Reuters
- Temasek, Khazanah team up for Singapore-Malaysia developments
- Singapore’s job market heavily weighted in workers’ favor
- Southeast Asia air travel news wrap: a big week
- New fund to help med-tech startups in Singapore
- Singapore GDP overtakes Hong Kong’s