Far East to become magnet for talented expats

The opening of China and the rise of other Asian hubs is giving rise to a new trend amongst those looking to enjoy a new lifestyle and a more challenging job.

As Europe still struggles under its collective debt crisis and political unrest, the phrase ‘Go East, young man’ is taking on a modern-day slant for many talented workers and discontented retirees. The continent is opening up to expat workers, with Singapore’s recent call for migrants from overseas to help solve its shrinking workforce, ageing population and low birth rate just one example.

David Howell of Guardian Wealth Management sees Singapore’s change of focus as just one aspect of the trend of heading to Asia rather than more familiar European or American expat hotspots. Howell is predicting that Asia will take over from the rest of the world as the number one expat destination.

Singapore and Hong Kong, he believes, are able to offer booming economies, a better standard of living and more attractive tax regimes than Western favourites and adds that it’s no surprise that the talent is leaving the UK for a more exciting life in Asia. The opening of Asean at the end of 2015 is expected to bring the South East Asian countries together in a manner intended to increase business opportunities, and is likely to attract Western entrepreneurs as a result.