Business and Lifestyle in Singapore

Singapore has a reputation for being a leading business hub in the world, as well as providing a high quality of life to expats and residents. Singapore has managed to leave a couple of years of negative growth, due to the global financial crisis, to create a prosperous country which offers many opportunities for expats in healthcare, finance, trade and technology.

The World Bank has ranked the city-state in the first position for ease of doing business. Ernst & Young found the state country to be the third of the most globalised economies among 60 of the world's largest economies according to a report by Ernst & Young (2011). There currently are more than 7,000 companies operating in Singapore, and over 100,000 expatriates working there.

One of the most remarkable aspects of Singapore is the mix of solid traditional values and modern business techniques. Let's take a look at some hints and tips for professional expats living or looking to relocate to Singapore.

Business tips

• Singaporeans are an eclectic mix of ethnics. Companies approach to business may, therefore, differ.
• Respect and hierarchy, as it happens in other Asian cultures, is widespread in business. For instance, junior employees do not deal with senior business partners. 
• Decisions are always made at the top.
• Any debates over disagreement about any decision made are held in private, never in the open.
• It is important to maintain good personal relationships. Make sure you attend any business dinners you are invited to.
• Harmony is sought in business meetings.
• Check out the Ministry of Manpower for more information on business skills that may be in demand.
  

Lifestyle

• When greeting people, a nod and a hand shake are the usual custom. 
• Women need to bear in mind that a big proportion of the population comes from an Islamic background. So, fashion may be a bit more conservative than in Western countries.
• Gift-giving is not as widespread as in other Asian cultures. Gifts are usually modest and not too personal.
• Enjoy chili crab and their carrot cake (not the Western version at all!)
• Singapore can be an expensive country. For example, their excellent healthcare comes with a high price tag.
• Haji Lane is fashionista's paradise! 

Got any other tips? Please let us know!

Thank you for reading this blog.
The Medibroker Team

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