Where and What is Singapore?
Singapore is a small Southeast Asian island lying right off the Malayan peninsula. While it only has 3.5 million citizens, it has an outsized role in the world due to its economic prowess. Here are some fun facts about this fascinating country:
- It has the world’s second busiest port after Shanghai
- It has the world’s second largest gaming earnings after Macau
- It has the largest number of Lamborghini’s per capita
- It is one of only three city/states in the world alongside Monaco and Vatican City
- Singapore’s only airport has been the world’s number one airport for the last 5 years
If you are thinking of giving your career a jolt with a move to Asia, here are the top 10 reasons you should consider Singapore as your home Asia:
1) Singapore is one of the safest big cities in the world with the world’s second lowest crime rate. Violent crime is extremely rare and much of the crimes that do occur are internet scams, something that can happen to you anywhere.
2) You never have to worry about freezing to death with average temperatures around 85 degrees Fahrenheit every day of the year. Singapore is located just a couple dozen miles from the equator, so all days are just about the same length. Living in Singapore, you never need to worry about the clock springing forward or falling back.
3) Singapore is a short flight from some of the most interesting places in Asia including Bali, Bangkok, Kuala Lumpur, Hong Kong, Ho Chi Minh City, and Jakarta. With budget airlines like AirAsia, JetStar, Tiger, Scoot and more, flights to these exotic locations will cost less than a standard fare from New York to Florida. People in Singapore are constantly on the move, so even the travel experience is better than the US. There’s no TSA forcing you to remove your shoes and Singapore’s Changi airport is simply amazing.
4) Get ready for very low income taxes. As a US citizen you will still likely pay US taxes, but you get a sizeable deduction of close to $100,000. On that first $100,000 you will pay standard Singapore taxes which are just 12%. Depending on what state you moved from you will be saving a considerable amount of money on your taxes.
5) While Singapore always tops lists of most expensive cities, that’s only for people that choose to live like royalty. Condominiums in the middle of the city will cost about what you might pay for a similar sized place in any large US city, but it will come with amenities like pools, jacuzzis, playgrounds, gyms and tennis courts. If you choose to live a bit further away from the action in a condo or house, your rent will be significantly less.
6) You don’t need to own a car. Public transportation is incredibly safe and affordable. A quick ride on a bus starts at $.60 while a taxi flag drop begins at $2.50. You can traverse the entire island on a train for just $1.80 or $15 in a taxi. In addition with the current price wars between Uber and Grab, ride booking apps are making it even cheaper to get around.
7) Singapore has some of the fastest Internet connections in the world. Nearly every home is connected to a national fiber network, and home internet rates are so inexpensive people purchase better packages than they need. You can get 100MB of download speed for $18 per month or even 1 GB for $28. For mobile, there are 3 major telcos and the entire country is covered by an LTE network.
8) International schools are excellent. Singapore does not just attract the best and brightest tech and financial workers, it also brings in the world’s best teachers. There are international schools of every type and the 2 American schools, SAS and Stanford American School, consistently rank on lists of top schools in the entire world.
9) Singapore is known worldwide as a food paradise. There are restaurants staffed by celebrity chefs as well as abundant ‘street food’ that’s safe to eat and unbelievably cheap. Ready to eat food is so inexpensive that many Singaporean apartments don’t even have an oven since meals are rarely cooked at home.
10) English is the official language. While there are a number of languages spoken in Singapore, everyone speaks English. English is so widely used that you can forget that you are actually in the middle of Asia.
With it’s billions of people and a rapidly growing middle class, Asia will undoubtedly move into the leadership role in the global economy. Experiences living in and working in Asia will be highly valuable as the balance of power shifts across the Pacific, and now is the time to gain this cultural exposure. With its easy and safe living standards, a move to Singapore will give you the softest landing possible and the best access to the rest of Asia. So put aside your fears, and make the move!