Expat talent important to the Singaporean economy

Singapore’s government is being urged to remain open to the immigration of talented expat professionals.

Economists in the expat-popular city state are urging the government not to crack down on expatriate professionals as they are essential for Singapore’s continuing economic development. The call comes as media outlets are publicising citizens’ concerns over the increasing number of foreigners being offered local jobs. It seems there’s a growing consensus amongst Singaporeans that foreign talent is taking over jobs able to be filled by qualified locals, with immigration in general now the topic of the year as it’s being linked to overcrowding and a loss of the liveability for which the city-state is world-famous.

However, economists are urging common sense as regards what is clearly a misconception, namely the undesirability of expat talent. One reason for this misunderstanding is that replacement of local expertise by its foreign equivalent is inevitably visible, direct and immediate, whilst the economic benefits of expatriate appointments are best judged over the long-term. It’s unfortunate that the appointment of a foreigner means the job itself is lost to local applicants, but what’s not realised is that locals are preferred if their qualifications for a particular position are equivalent to those of an expat applicant. In the case that the foreign applicant is clearly superior, he or she gets the job.

The top jobs in Singapore are filled by around 50 per cent Singaporeans and 50 per cent expatriates, with unemployment in general extremely low and salaries for many far higher than they would have been should the state not have utilised foreign talent as it became available. Another point is that foreign talent brings in foreign investment, including multinational companies which hugely benefit the economy. Even the city’s ultra-modern amenities are the result of incorporating foreign talent with investment and welcoming the brightest and best. Over the past decades, Singapore has opened its doors to expat professionals as well as major international corporate players, all of which has been managed without sacrificing the city’s high level of interracial harmony.