Average and minimum salary in Singapore: in this post we will discuss wages in Singapore, also featuring an economic outlook of this wealthy Asian nation
Are you considering relocating, working or investing in Singapore? Check our the data on the average and minimum salary in Singapore to understand the economy of this advanced Asian city state.
Singapore has high ranks in ease of doing business and also living standards. Let’s understand using its minimum and average wage data, why Singapore is one of the most attractive countries in the world for expats and foreign workers.
Minimum Salary in Singapore
Unlike many highly developed nations, Singapore does not have an official minimum salary. This is in fact, one of the reasons why the country’s economy is so dynamic. Its flexible economic policies help Singapore to have a very low unemployment rate, with just 3.2 percent as of 2019.
However, there are a few exceptions in Singapore in which a minimum income applies. The minimum salary in Singapore for cleaners is currently at 1,200 SGD, or roughly 880 USD. This figure is helpful to understand the lowest market salaries currently available among the Singaporean labor force.
You can read more about professions that have a regulated minimum salary in Singapore on the Singaporean Ministry of Manpower website.
Average Salary in Singapore
The average salary in Singapore, is however, among the highest in Asia. This fact is easy to understand as Singapore attracts new start-ups every year, and also many multinational corporations are also headquartered in the city-state.
The average salary in Bucharest is currently around 4500 Singaporean dollars, or roughly 3100 US dollars. If you are living in Singapore this might seem a pretty high figure, however the cost of living in Singapore is also among the highest in the world.
Singapore: Economic Outlook
Singapore has a very developed economy and society, often featured among the top countries for its living standards. The country is also one of the easiest places to do business in the world. Opening a company in Singapore is a pretty fast process. Its high rankings combined with a flexible, low tax system allow Singapore to attract top professionals from almost every working sector.
There is also a huge demand in Singapore for low skilled workers. These jobs are mostly filled by ASEAN members citizens, and play an important contribution to the development of the Singaporean economy. The country is also know as one of the major global financial hubs, and this sector has great possibilities for expats.
Other important sectors with good opportunities for foreign workers are: biotechnology and international trading. As English is one of the country’s language, most of these jobs do not require speaking Chinese or Malay.
If you are visiting Singapore soon, check our post on the best places to stay in Singapore. This guide is especially useful if you are coming to the country for the first time.
Interesting Resources for Working and Living Abroad
Are you really considering to work and live abroad, temporarily or permanently? Below are some resources that might be useful for you around the web:
World Nomads: this company provides travel insurance in most countries around the world. It might be a good option if you going for a long travel.
Jetradar: Compare and book flights around the world with our own flight search fare tool.
Booking.com: Booking.com is the best choice for finding accommodation for your next trip, with a wide variety of choices for all types of travelers.
You may also want to check our website guides:
Train Travel Guide: in our railway travel guide, you will learn how to choose and ride the most scenic train routes around the world. Travel always in the most comfortable way with optimal prices to enhance your travel experience.
Dating Guide: our dating guide will help you not only to find love but to understand the social customs of each country. It will also help you to avoid dating scams around the internet and find people really interested in honest relationships.
Work Abroad Guide: Learn how to find a job and employment requirements in different countries. From the initial job search, to bargaining salaries, this guide will help you to find job in most countries around the world. It also covers about remote work and TEFL jobs.