Econintersect: Singapore will be hiring more than 300,000 mid-to-senior level professionals in 2011, according to The Times of India . Only half of these will be hired domestically, with 60,000 coming from India and 90,000 from elsewhere in the world. Because of globalization, 60% of the new hires will be located outside of Singapore. The Times specifically mentions China, Indonesia, Malaysia, Hong Kong, Vietnam and Australia as countries seeing expansion of Singapore firms.From The Times of India:
Zubin Shroff,partner in executive search firm Braithwaite Steiner Pretty, said Singaporean firms requirement for talent had multiplied this year,with all markets in the region growing.This is creating opportunities for many Indian professionals from across industries.
Singapore is the regional headquarters for many American and European banks, financial institutions, manufacturing giants, oil and gas companies, large IT corporations, mining firms, healthcare and hospitality brands. These companies are now expanding rapidly in Singapore and across China,Indonesia,Malaysia,Hong Kong,Vietnam and Australia.
Jayanthi Y,chairman of hiring firm AdAstra Consultants, who is in charge of talent acquisition for Apac, said, Singapore today offers a never-before opportunity for Indian talent. Its proximity is an attractive element, while salary is the biggest attraction. Professionals receive 4 to 5 times what they are paid in India.
Many of the jobs physically located in Singapore are subject to a 15% income tax.
Sources: The Times of India