Tuesday, February 20, 2024
Tuesday, February 20, 2024
Home » ECA Int’l: Singapore Expat Packages Climb Higher

ECA Int’l: Singapore Expat Packages Climb Higher

by Kimo Vongphakdy
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The salary and benefits packages for expatriates in Singapore rose higher in 2022, according to ECA International, in contrast with a dip in rival Asian hub Hong Kong.

The average expatriate middle manager in Singapore saw their overall salary and benefits package rise 4 percent to $258,762 in 2022, according to a survey by ECA International. Globally, the city-state rose six ranks to the 16th place in terms of highest expat packages. Three main elements for companies in considering the cost the package are cash salary, benefits and tax.

«The surge in the cost of expatriate accommodation in Singapore is being felt by locals and expatriates alike, as reflected in the 9 percent increase in the cost of benefits in expatriate packages,» said Lee Quane, regional director Asia at ECA International.

In contrast, Hong Kong saw expat packages drop 2 percent to $278,020. Despite this, it rose three places to become the fifth most expensive place to hire expat workers. UK retained the top position at $441,608.

Source: Finews

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