Thursday, June 14, 2012

Why Singapore is the place to be for investment banking?

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Singapore, Best place for investment banking in Asia
Since the end of the 90's, Singapore is attracting more and more expats in the financial industry every year, high salaries et good benefits has ranked Singapre the first place in the world where Investment bankers want to work according to the Telegraph survey, Singapore has gotten 27% of the votes!

Singapore is also the country that has the highest percentage of millionaire in the world, with about 1 out of 6 households being millionaire, but the question is why did this city become such a major financial hub in asia despite its small size   and limited ressources?

First of all, Singapore is synonym of effectiveness and efficiency in the  business world, indeed it has been ranked the best country for doing business by the world bank this year due to its openness for trading with few limits to imports, moreover it takes 3 days on average to legally open a business compare to more than 3 weeks in Europe,  the population has one of the highest GDP per capita in the world and unemployment rate is as low as 2.1%.

 Singapore is also the center point of south easter Asia, with easy access to Indonesia, Thailand, Viet Nam, Hong Kong and China within few hours, making it possible to go there for a business day trip.
All the big boys are already there, Goldman Sachs, JP morgan, UBS, Deutsche Bank and Societe Generale, all have offices in Singapore's skyscrapers and are hiring both locals and foreigners, indeed Goldman Sachs has even declared having fired people for its american offices to hire workers in Singapore, you understand now why more than 1 million of foreigners are already living there.

On the top of that, the city-state offers a very attractive lifestyle with casinos, upscale appartments, F1 racing, crazy night life, and one of the lowest criminality rate in the world.
 
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