Singapore's iconic Marine Bay (Photo: New Straits Times)Singapore (VNA) – Quality of life,education facilities, and a transparent and professional business environmentare elements making Singapore attractive to foreigners despite its high livingcost.
The finding was part of the latest annualreport recently published by the Economist Intelligence Unit (EIU) under TheEconomist magazine.
According to the report, Singapore was ranked asthe most expensive city for expatriates and business travelers for the fourthtime in a row.
However, living cost is only one of many factorsfor an individual to make decision for a work destination, said human resourcesspecialists.
In addition, the transparency of governance andease of doing business, combined with government efforts to create a positiveenvironment for start-ups and innovation makes Singapore a highly attractivebusiness hub for people to grow their careers.
It is also an ideal place for FinTech (financeand technology combination) or research and development (R&D), which is whymore European and Asian nationals move to Singapore recently.
The EIU survey compares prices of 160 productsand services, including food, clothing, household supplies and personal careitems, home rents, transport, utility bills, private schools and recreationalcosts, between 133 cities across the world with New York city (the US) as thebaseline.- VNA
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