Singapore cements its position as global tech hub15.05.13 / Kirsten Morel
Singapore has been ranked as the 3rd most popular technology destination for professionals, cementing the country's position as one of the world's major technology hubs, according to a report compiled by recruitment firm, Hydrogen Group.
The report, entitled Global Professionals on the Move 2013 , shows that Singapore comes in behind the US (1st) and the UK (2nd) in terms of its popularity as a digital hub. The country is ranked 2nd in desirability for finance sector professionals and 4th across all sectors, making it the top-ranked Asian location, increasing its lead over rival Hong Kong, which came eighth.
“With an exceptionally well-educated and highly motivated workforce, Singapore is an extremely innovative country," said Simon Walker, Hydrogen’s Managing Director for Asia. "It is producing tech entrepreneurs and engineers who are creating much of the high tech industry of the future, for example in life sciences, medical equipment and biotech. For professionals, it’s about wanting to build a career in a busy and cutting edge region.”
According to the report, the rising value of Asian professionals with international experience is a new feature of the global market in professional skills. Asians who have worked away from home, and whose home countries are now becoming economic powerhouses, have become a highly prized commodity, as they combine international skills and training with a profound understanding of local culture and customs, so crucial to doing business in Asia. Countries all across Asia, including Singapore, are tempting this national talent home.
Interestingly, the majority of professionals have not yet caught up with the shifting balance of emerging countries. Their top preferences are still almost exclusively in the developed world and include few of the fast-growing emerging markets where they will be needed in the future.