Last Updated on December 10, 2024
Singapore has long been a prime destination for business and development. The country continues to position itself as an attractive workplace for foreign talent now and in the years to come.
While countries like the U.S., Japan and, recently, Mexico rank as some of the top technology industries, Singapore is the most “technology-ready” country, according to the 2016 Global Information Technology Report from the World Economic Forum.
But technology isn’t the only reason why foreign talent and Singaporean citizens may enjoy working in Singapore. Here are some reasons why the city-state makes for an appealing choice for workers interested in working abroad:
A Growing Technology Hub
Singapore’s technology sector is one of the most advanced in the world, as evidenced by the World Economic Forum’s 2016 report. Singapore’s government strongly promotes its biotechnology sector, but recently, it has made a big push to build up technology research. In particular, according to the South China Morning Post, artificial intelligence is a point of emphasis. It’s no surprise that artificial intelligence is a focal point. It has recently become even more important in the daily proceedings of large companies, particularly concerning machine learning.
In late 2017, private investment group Marvelstone Ventures announced it was creating an AI hub in Singapore. When it opens in 2018, the hub plans to incubate approximately 100 startups annually. Furthermore, the Singapore government announced it would be investing nearly Sg$150 million (US $110 million) in AI research.
While other countries heavily invest in AI, Singapore may have a leg up on the competition because the country is more accepting of outsiders. The South China Morning Post reported that the government also plans to provide strong financial backing. The publication reported that a “big gap” remains in the number of researchers available in Singapore. This indicates a demand for workers specializing in AI, including foreign talent.
A Strong Economy
Singapore’s economy is one of the strongest and most developed in the world. As of December 2017, the country’s GDP was $297 billion and its GDP is projected to grow 2 percent. Additionally, Forbes listed Singapore as the ninth-best country for business. In the future, companies may set up shop in Singapore and require foreign talent to staff offices.
A Safe Country
While foreign countries might be enticing for future work opportunities, individuals moving to a new place will likely consider the country’s safety.
For those considering working in Singapore, the country is the safest in the world. According to the World Justice Project Rule of Law Index 2017-2018, the study measured the prevalence of common crimes and the general perceptions of safety throughout the country.
Next Steps for Foreign Talent
If you’re interested in working in Singapore or for a company seeking to expand operations to the country and need to hire foreign talent, contact the Envoy Global team to get started.
Content in this publication is for informational purposes only and not intended as legal advice, nor should it be relied on as such. For additional information on the issues discussed, consult an attorney at Corporate Immigration Partners, P.C., or another qualified professional of your choosing. On non-U.S. immigration issues, consult your Envoy representative, or another qualified representative of your choosing.
