SINGAPORE: A recent survey conducted by recruitment consultancy Robert Walters has revealed a significant increase in the number of local professionals living abroad who intend to return to Singapore within the next five years.
The survey, which collected responses from 123 local professionals across various industries, found that 58 per cent of these expatriates are now considering a return to Singapore, marking a notable nine per cent increase from the results of the same survey in 2022.
A staggering 76 per cent of respondents expressed a strong desire to return to Singapore primarily to be closer to their families. The significance of family ties was followed by a considerable 41 per cent who cited emotional, social, and cultural connections to Singapore as key reasons for their intention to return.
Interestingly, the current economic landscape was also identified as a significant factor influencing the decision to return home.
Roughly half of the surveyed professionals indicated that the prevailing economic conditions played a role in their deliberation. Many respondents displayed optimism about Singapore’s steady economic growth, as well as the nation’s supportive national policies and incentive schemes, which further encouraged them to consider repatriation.
The survey also highlighted that approximately 36 per cent of foreigners working overseas do not have any intention of returning to their home countries. Among this group, nearly 70 per cent believe that their skills are more valued in foreign countries, indicating a potential perception gap in the value placed on skills and expertise across different nations.
Furthermore, over half of these respondents held the belief that local companies may not offer equal employment opportunities, work arrangements, or progressive working methods compared to their overseas counterparts.
The hesitation to return was also found to be fueled by concerns related to employment conditions. Nearly 50 per cent of those who expressed no intention to return voiced fears of reduced salary and benefits upon reintegration into the local workforce. /TISG