Study reveals Singapore wins out for economic freedom

Expats looking for the best relocation deal could do far worse than head for Singapore.

Everything that’s important to would-be expats, including the size of salaries, a free regulatory environment, ultra-modern business frameworks and the lifestyle itself depends on the economic freedom of the chosen destination. A recent survey by the Heritage Foundation citied Singapore as the most economically free world state, beating out last year’s winner Hong Kong and also-rans New Zealand and Australia.

Citizens and expats living and working in economically free countries earn salaries which are double the global average and five times higher than those in economically repressed countries. Also, according to the report, citizens and expats living and working in free countries live longer, are more environmentally conscious and enjoy far better educations than their equivalents in less free societies.

Positive economic growth, a stronger rule of law and effective governance are also qualities attributed to economically free societies, all of which make expatriate lives easier and allows them to contribute more expertise for the good of companies and ultimately the society in which they operate. However, as indications of global warming grow all across the globe, environmental concerns are headline news across the world, but solutions aren’t being taken seriously.

Singapore may well be expat heaven on earth for ambitious expatriates, with the city state praised for its environmental consciousness, but 90 per cent of the huge amount of electricity used comes from fossil fuels – hardly an achievement in itself and the archipelago, along with Osaka and Hong Kong, is now one of the world’s most costly cities for expats, possibly a justification for the huge salaries.

For genuinely environmentally conscious expatriates, perhaps Tashkent, Damascus or the Kazakhstani city of Amaty might be a better and certainly cheaper choice.