SINGAPORE: According to an investor attitudes survey, only 39 per cent of Singapore respondents who have lived or worked abroad before want to retire in their home country.
In a press release issued on Thursday (Oct 16), Friends Provident International (FPI) said that out of the 1,006 people surveyed, 68 per cent of Hong Kong respondents and 35 per cent of Singapore respondents are currently living or have lived outside their home country for at least six months or more. Of those surveyed in Singapore, 91 per cent were Singapore citizens, while the rest were expatriates.
According to the survey, chasing a better quality of life and lower cost of living were among the key reasons for choosing to retire overseas. Countries like Australia and Malaysia were revealed to be popular retirement locations for Singaporeans.
The survey showed that people who are globally mobile have a different view on investment strategies compared to those who remain in their home countries, with a significantly higher investment appetite across all asset classes - including gold, cash, equities, currency markets, property, bonds and collectibles.
Mr Noel Whittaker, executive in residence and adjunct professor with the Queensland University of Technology Business School, said: 'Working aboard exposes you to numerous opportunities, in particular it encourages investors to think outside their local market. Although this can have a positive influence on one's financial situation, it is still essential to seek financial advice to understand the local market.'
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