Singapore Top Destination for Australian Expats

Singapore Top Destination for Australian Expats

Singapore Top Destination for Australian Expats:

Atlas Wealth Management Report

 

  • 80% of Australian expats in Singapore recommend the country as a destination to fellow Australians
  • 55% of Australian expats have more disposable income than when they lived in Australia
  • 40% of Australian expats previously looking to buy property in Australia have been deterred by the changes in the tax rules

 

Singapore Top Destination for Australian Expats – Singapore has been voted by Australian expats as the best destination in the 2018 Atlas Wealth Management Expat Insights Survey.

From the 1st of February through to the 31st of May 2018, 1,774 Australian expats from 65 countries participated in Atlas Wealth Management’s Expat Insights survey.

With over 1 million Australian citizens living and working overseas very little is known about the Australian diaspora.

The purpose of the survey was to gain a greater insight of an Australian expat, including their background, their motivation for moving, whether the move has been a success, would they recommend their adopted country to other Australian expats and if they intended to return to Australia.

“With a vast population of Australian citizens living overseas we know very little about their background and why they chose to live the expat life” said Brett Evans, Managing Director of Atlas Wealth Management.

Every year over 300,000 residents leave Australian shores for a period of greater than 12 months and both government and private sector research shows that the Australian expat ranks are forecast to swell.

“Australians have chosen to move overseas, and live the expat life for decades, however what has changed are both the destinations and the complexities of managing your life as an expat” continued Evans.

According to the survey 18% of Australian expats have reported that their tax situation is now more complicated than before and 16% said managing their finances is now more complex.

The changes in tax legislation by Canberra has also not gone unnoticed overseas. Even though only 30% of Australian expats own property back in Australia the recent changes have deterred 40% of those looking to buy back in Australia from going ahead with the purchase.

Category Winners

There were four categories in the survey: Lifestyle, Career, Financial and Family. The winners for each category were:

  • Lifestyle     Philippines
  • Career         Singapore
  • Financial   China
  • Family         Sweden

As well as taking out the Career category Singapore also won the Best Overall category by scoring the highest average score across all four categories.

Report

To download a copy of the report please click here

 

Brett Evans is the Managing Director and a Financial Planner with Atlas Wealth Management which is the first financial services firm in Australia to specialise in providing financial advice to Australian expatriates. With over 20 years of experience in the finance and investments industry, Brett has worked for blue chip companies which include the Australian Stock Exchange (ASX), HSBC, Suncorp and Citi Smith Barney.

0 Comments

Leave a reply