Expats' average income rose 42% to $160,444 after moving in

Singapore also remains the top destination for expats.

Expats' average income rose as much as 42% to $160,444 (US$118,000) after they moved into Singapore, HSBC revealed.

According to the tenth HSBC Expat Explorer, this figure in Singapore is higher by at least US$18,000 than the global average.

Three-quarters or 73% of the expats surveyed said the country offers better earnings potential compared to their home country.

Around 65% also said they have more disposable income than at home. The money is mostly spent on taking more holidays and living in a better property.

More than half or 57% of those that set money aside save up for retirement, 44% for property, and 40% for other long-term investments.

But an expat life in Singapore is not cheap, especially for the 40% of expats with families.

Almost nine in ten or 85% of parents said childcare is more expensive here, but due to high-quality education, the cost "seems worth it."

Around 74% of expat parents also said their children have a better quality of life in the country than at home.

Singapore also ranked as the third safest country for families, and 82% of expats said they feel safer here than at their home country.

About 73% of expats are also very confident in the local economy, whilst 83% are positive of its political climate.

However, 48% expressed uncertainty with the global economy, higher than the 31% rate globally.

For Singaporean nationals abroad, however, 70% said their work-life balance abroad is better overseas than at home. This was higher than 53% of other expats surveyed.

Social life also improved for 42% of Singaporeans that moved out, whilst 43% said becoming an expat strengthened their ties with their partners.