Singaporeans Crave A Digital Nomad Life, But Worry If They Can Migrate Overseasby Fintechnews Singapore July 17, 2018
A new study revealed that 7 in 10 Singaporeans (69%) want to work remotely to travel the world. This is especially true of younger Singaporeans, where up to 74% of 15–34-year-olds have the same dream.
However, they aren’t sure about which countries that will welcome them.
These were the findings of TransferWise’s report, which surveyed more than 1,000 Singaporean citizens and PRs to understand Singaporeans’ attitudes towards migration, the future of work, and what a more open world looks like for future generations.
The top countries of choice for long-term migration include Australia, New Zealand, Japan, Canada, and the United Kingdom, in order of preference.
These results more or less tallied with a separate study by IDP Singapore, revealing that Singaporean students favour Australia as the top education destination, followed by the United Kingdom, then the United States.
However, 52% of Singaporeans are worried about losing the freedom to move abroad due to the evolving geopolitical climate. Millennials in particular reported this worry (specifically, 65% of 20–24-year-olds and 63% of 30–34-year-olds).
TransferWise’s Head of Banking, Lukas May said,
“As a cosmopolitan hub, Singapore recognises that lives and ideas today are more global than ever before. More Singaporeans, especially the younger generation, are seeking experiences around the world for personal and professional growth.”
“However, our research also shows that people are feeling anxiety about how they can live their life – and move their money – without being held back by physical borders.”
Migration Dreams Lead to Other Concerns
60% of respondents report that they are worried about brain drain due to the increased Singaporan desire for migration.
To counteract that concern, 52% of Singaporeans note their inability to part with their loved ones as a major obstacle to migration. Slightly more women, at 58%, cite this compared to the 45% of men.
But They Intend on Coming Back
The survey also revealed that while a significant majority (85%) of Singaporeans would like to live outside of the island nation, they would not like to stay away from home for long. Only 18% of Singaporeans want to move abroad for good, while half (50%) of Singaporeans want to live abroad for up to five years.
Those polled in the healthcare industry ranked highest (92%) in their desire to move abroad, while Singaporeans in the technology (91%) and manufacturing industries (88%) followed. Those working in the government had the least desire to move abroad (78%).
Featured image via Pixabay