Singapore – Most talents willing to move to Singapore come from neighbouring countries and seek job opportunities in the marketing and media industries, a global study from Boston Consulting Group (BCG), The Network, and The Stepstone Group revealed.
According to the study, talents mostly wishing to move to Singapore come from neighbouring countries, including Malaysia, Thailand, Indonesia, the Philippines, and Hong Kong.
In fact, nearly one in three (30%) Malaysian respondents prefer Singapore as a working destination. Despite the distance, talent from countries with large populations, such as China and India, also expressed a strong interest in Singapore.
These talents willing to move to Singapore mostly seek job opportunities in marketing and media, as well as in the digital, data science, and AI industries.
People cited the abundance of quality job opportunities as a major reason for their willingness to move to Singapore. This is on top of other factors such as the country’s overall quality of life, cost of living, reputation for safety, stability, and security.
The global study showed that Singapore comes in eighth on the list of the top 10 most desirable destinations to work, maintaining its rank in the top 10 since 2020. The country joins the list, just behind English-speaking countries like Australia, the US, Canada, and the UK, which occupy the top four spots.
In terms of cities, Singapore has also secured the fifth and seventh spots, respectively, for the most desirable cities worldwide. With this, Singapore surpasses Tokyo as the Asian city that most respondents would consider moving to for work.
However, while many global talents expressed their interest in moving to Singapore for work, 64% of Singapore respondents also expressed a willingness to pursue opportunities abroad, especially in Australia, followed by other high-tech and mature economies such as China and Japan.
Out of this group of respondents who are willing to move, young Singaporeans are more likely to be mobile (72%), similar to the SEA (70%) and global average (73%). It’s also worth noting that most Singaporeans aspiring to work overseas prefer short-term assignments, and they intend to return home after achieving their goals overseas.
Chew Siew Mee, managing director for Singapore at Jobstreet by SEEK, said, “Employers in Singapore must strive to attract and retain both local and foreign talent, as we could expect talent shortages in the future with the country’s small and ageing population. With Singapore being a popular destination for the global workforce, local employers are already well-positioned to do so, and Jobstreet is committed to helping them enhance their workforce further. Our new platform allows employers to tap into a vast pool of talent across eight Asia Pacific markets, facilitating relevant connections with highly skilled professionals from neighbouring countries such as Indonesia, Malaysia, and Hong Kong.”
Meanwhile, Jens Baier, managing director, senior partner, and leader of BCG’s work in HR excellence, shared, “Other countries can be a great source of talent. But establishing a channel of workers from abroad requires employers to fundamentally overhaul how they recruit, relocate, and integrate talent.”
“They may have to challenge their own biases and look for talent in markets and regions that they had not previously considered. Governments also play a strong enabling role in this process. They must establish policies, incentives, and frameworks that help employers bring in the talent they need. Employers and nations that tap into such positive energy from the millions of workers with mobile aspirations will gain a major competitive advantage and source of growth,” Baier concluded.
