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Where Do the Wealthiest Expatriates Live?

Oct. 8, 2012 2:07pm Guest Post

[Editor’s note: the following is a cross post that originally appeared on CNBC.com]:

A small island state in Southeast Asia has come out tops in a listing of countries that boast of the richest expatriates.

In an annual survey released by HSBC on Monday — which was conducted across 100 countries and involved more than 5,000 expatriates — Singapore emerged as the most favored expat destination to make money in and accumulate luxuries.

Foreigners, who make up a sizable portion of Singapore’s 5 million-plus population, earn more than those living in any other part of the world. About 54 percent of Singapore-based expats who took part in the poll earn more than $200,000 annually compared to a global average of only 7 percent according to the Expat Explorer 2012 survey.

Singapore, which came in third place last year, moved up two slots to beat Bermuda at No. 2 and Thailand at No. 3. The three other Asian countries that made it to top 10 are Hong Kong, China, and Vietnam.

The survey, in its fifth year, showed 80 percent of the expats who moved to Singapore saw an increase in their disposable income. Around 44 percent reported an increase of 50 percent or more in their disposable income, compared to the global average of just under a fifth.

Given the bleak employment picture in both Europe and the United States, job hunters are increasingly looking eastwards for opportunities, with 70 percent of the expats surveyed citing better career prospects for the move to Singapore.

Better Quality of Life

In terms of quality of life, Singapore also scored high, coming in fourth in the world and second in Asia after Thailand. Better accommodation, less commuting time, and a more active social life were some of the pluses of living in this tropical nation, the survey found.

Singapore is also child-friendly in the eyes of its expats. Ninety-one percent of the respondents said they felt their children were safer here. Costs, however, were a concern with 83 percent saying they are spending more on education for their children.

“Singapore is fast becoming an all-round expat destination for career progression, financial rewards and quality of life,” said Paul Arrowsmith, head of retail banking and wealth management at HSBC Singapore.

Where Are They Investing?

Expats in Singapore do not favor any one asset class and maintain a diversified investment portfolio. Those earning $200,000 to $250,000 a year have moved over time from a higher proportion of cash investments to a relatively even mix of cash, real estate and equities, the survey found.

“Expats have come to realize, given wider economic uncertainties, the advantage of diversification to hedge against volatility,” wrote HSBC in its survey report.

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Comments (25)

Balpit
Posted on October 9, 2012 at 2:04pm
Singapore has draconian laws.
If you’re caught with drugs, you either get life in prison, or a death sentence.
If you spit or litter–or even jaywalk!–it’s off to jail with you.

They also have strict laws against owning any arms. If you’re caught with so much as a single bullet in your luggage, you will be caned.

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- HKMann
  Posted on October 10, 2012 at 6:32am
  And what is wrong with that? Making sure people follow and obey the laws of the land is the perfect right thing to do. The rule of law must prevail, and crimes must be punished if laws are to be truly deterrents to future criminal activities.
  
  For people who think that they are above the law and can do whatever they want in the name of freedom and democracy, I say let them live in places llike America or Mexico or certain parts of Africa where there is a lot of personal freedom and little punishment for crimes.
  
  Yes, live there and enjoy your wonderful lives full of marijuana, hashish and pot. Don’t bother to visit our beloved Singapore where we all want to live in peace and as free of crime and pollution as possible.
  
  Report this comment
- Balpit
  Posted on October 10, 2012 at 4:49pm
  I’m not some anti-law anarchist. If you can’t do the time, don’t do the crime. And I don’t think such drugs should be legal. But I AM against death sentences for petty crimes. Going to jail for jaywalking? You really think that’s good? A warning or a fine would be perfect.
  
  Report this comment
ThoreauHD
Posted on October 9, 2012 at 10:22am
Singapore seems like a great place at the moment, but their expanding muslim population can turn those gains to negative’s overnight. They are currently at 15%, and have been trying to curtail islamic influence, but it’s a struggle that doesn’t end well when the 33% majority are buddhist pacifists.

Singapore is a good option for now. But 10 years from now, plan on moving elsewhere.

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Secret Squirrel
Posted on October 9, 2012 at 9:43am
.
Yeah, but do they welcome illegal aliens?

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Derek01
Posted on October 9, 2012 at 9:40am
If not for self-serving liberal leech politicians, we wouldn’t be having these problems. They creep into office and eventually make life hell for working people and businesses. Look what happened in Detroit, and what’s happening California, and now America.

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GaltsGultch
Posted on October 9, 2012 at 12:00am
Students’ GPAs should be redistributed to ensure that those with excessive grades pay their fair share.
http://www.neontommy.com/news/2012/10/gpa-fairness-its-time-redistribute-grades

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ShyLow
Posted on October 8, 2012 at 5:17pm
If Romney gets elected and the wealthy don’t start finding ways of helpling their fellow man by ways of affordable housing and transportation, then hello Socialism in 2016. Entry level cars starting at $15,000 and delapidated apartments that rent for $600 a month = Socialism for sure come 2016

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- AnAmericanToo
  Posted on October 11, 2012 at 10:11pm
  I am confused. The wealthy need to help others with housing and transportation?
  The folks that I now WORK for their material items. The folks I know buy USED cars and have skills to repair their own vehicles. It is a concept called “self reliance”. I don’t know where you live that a dump of rental unit is $600 but that will get one a very decent place in many, many place in the USA.
  In case you missed this entire summer — maybe you were in your own Chooma Gang bus and a bite spaced out inhaling deeply — but Mr. Beck and those he inspired organized to have (11) 18-wheeler rigs filled with donated foods to be sent to fellow needy Americans. And one day in July, Mr. Beck and his staff organized an entire day where Americans gathered to DONATE their time and talents to helping individuals and projects in the Dallas area.
  
  There is a fellow’s website as George4Title who got fed up with California’s insane traffic offense fees and fines. He now rides a bicycle or uses public transportation. He is very happy without having his own vehicle.
  
  I recently learned that the federal government believes that having a ‘cell phone’ is an ‘essential item’ so we taxpayers are footing the bill for this luxury item. The taker pays $10/month and the taxpayers without our knowledge nor consent pick up the $30/$40/month difference in the cost. A cell phone is a luxury. PERIOD!
  
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thegreatcarnac
Posted on October 8, 2012 at 3:44pm
Until we stomp Socialism into the ground (and we can) and stop the radical muslims (and we can) there is no place safe and worth living in for long. We have the wrong leader for the wrong times. Out with obama.

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Dismayed Veteran
Posted on October 8, 2012 at 2:41pm
I can say with absolute certainty that I would never go to Vietnam again.

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- darkeningskies
  Posted on October 8, 2012 at 3:17pm
  America should be the country that all would dream of living in
  
  We must get this country back so that it is the land of fulfilling ones dreams again
  
  Report this comment
- darkeningskies
  Posted on October 8, 2012 at 3:19pm
  Dismayed Vet……I would like to thank you from the bottom of my heart for your service to this great country
  
  Report this comment
thegreatcarnac
Posted on October 8, 2012 at 2:18pm
Singapore is neat. Very well run. Very clean (usually). However..it was not for AMerican power it would not last long.

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- The_Jerk
  Posted on October 8, 2012 at 2:35pm
  Expats. Loyal to no nation. Loyal only to wealth. Anti-American.
  
  Report this comment
- Link8on
  Posted on October 8, 2012 at 2:46pm
  Abuse of government taxation power here in the USA driving mobile wealth generators to better homes elsewhere.
  
  Report this comment
- Master.Debater
  Posted on October 8, 2012 at 2:55pm
  People came from all over the world to the United States in search of opportunity and a better life, why shouldn’t we expect it to go the other way as our country’s free market system is dismantled and economic opportunity becomes a thing of the past?
  
  Report this comment
- Master.Debater
  Posted on October 8, 2012 at 3:02pm
  The Jerk would say that your ancestors who emigrated were “anti-” whatever their home country was.
  
  Whenever Marxists take over there are always self-starting emigres who get out and predictably they are referred to as “traitors” or “enemies” by the Statists.
  
  Report this comment
- michael48
  Posted on October 8, 2012 at 4:49pm
  jerk..the dream doesn’t die…it just goes where it’s welcome…you dem-wit , socialist denied it’s success , now live in your in your Utopian dream…serfdom…it suits you well…
  
  Report this comment
- The_Jerk
  Posted on October 8, 2012 at 5:34pm
  Future Americans left their European homes in search of wealth. Expats are leaving with their wealth. Big difference mo-rons.
  
  Report this comment
- Jaycen
  Posted on October 8, 2012 at 9:13pm
  @The_Jerk
  
  Really? Seeking wealth and seeking to protect your wealth are totally different and mutally exclusive concepts?
  
  Please remind me who the moron is again…?
  
  Report this comment
- Duddio
  Posted on October 9, 2012 at 12:06pm
  Jerk,
  
  Rich people emigrated to the new world as well for the unlimited business opportunities. It wasn’t cheap to finance expeditions to a land with no infrastructure but it happened in increasing numbers by the wealthy to gain greater wealth. When the wealthy invested, it created opportunities for those who weren’t wealthy to be enriched by taking a risk and doing some hard work.
  
  Don’t be obtuse.
  
  Report this comment
TAXEVERYONE
Posted on October 8, 2012 at 2:12pm
Slow news day?

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- 2MINUTESTOMIDNIGHT
  Posted on October 8, 2012 at 2:31pm
  18. This is actually very timely. I predict a heavy exodus of wealth and wealthy citizens from the USA if the POS Kenyan is reelected. Why would anyone with any amount of wealth stay here only to have it taken by the government? Did you happen to notice how much wealth has left France recently? When a government over taxes the makers to pay for the takers, the makers leave in search of an environment that will allow them to flourish.
  
  Report this comment
- socialism.rocks
  Posted on October 8, 2012 at 3:01pm
  there is only one entitlement the full backing of the usa…
  
  rich people are going to learn that hiding money oversea’s is not alone worthless but dangerous wait till the real crash comes and countries start- nationalizing those rich people assets in those foriegn countries….
  
  the funny thing about the socialists in france if you take your wealth out of france you cant do business within-france…
  that is coming next it will happen in all western nations
  
  Report this comment

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