Survey shows business sentiment up, more expats moving
to S'pore
SINGAPORE : A recent survey by the American Chamber of
Commerce shows over 40 per cent of companies polled are optimistic
of an economic turnaround by the end of the year. This is up from
just a third of respondents at the end of 2008.
Neither has the global downturn dampened expatriate numbers.
According to another survey, more expatriates moved to Singapore
than left between March and April.
It is a common perception that when the recession hits, the
expatriate is usually the first to go.
This time, it is not quite true.
Instead, a recent survey by the American Chamber of Commerce showed
only a small increase in multinational corporations sending back
foreign staff, from 15 per cent to 21 per cent between December
2008 and May 2009. But significantly, eight in 10 chose not
to.
Other industry observers have also noticed more Asian expatriates
arriving.
Beverly Mayhew, founder, Orientations, said: "The fact that
organisations had to look to cut budgets, they were being creative
in 'how can we do this without compromising the standards that we
hold?'
"This is being driven by the fact that their employer is finding
the talent in Asia now, and Asians cost less."
She said that this trend of bringing in more Asians is a particular
feature of this current recession. For the past 28 years, her
company, Orientations, has been helping expatriates settle in after
their move to Singapore.
Observers said that many multinational companies are also offering
reduced pay packages to their expatriate staff. And more foreigners
are taking them up, with some accepting even local terms, so long
as key items, like their children's education at international
schools, remain untouched.
And a check with these schools shows that demand remains high, with
no significant sign of parents pulling out their children from the
schools.
Some like Tanglin Trust School said that withdrawals have in fact
gone down by about 20 per cent compared to previous years.
The Canadian International School said it has seen more North
American students leaving at the end of the school year, but their
places are being taken up by Asian students.
Over at the United World College of South East Asia, wait-list
numbers are still strong.
Its main campus at Dover Road has seen only a slight increase in
withdrawals this year - 130 compared to 118 a year ago.
Julian Whiteley, head of college, United World College of South
East Asia, said: "One of the fascinating things about education is
that it tends to be the one thing that parents will hang on to. And
what I suspect has happened is that some parents may have lost
their jobs or may be waiting to pick up another job in Singapore,
and so they are staying here in the hope that they can get another
job, and they can keep their children in the school.
"And looking around the world, historically, one finds that the
number of students, the enrolment in a school drops usually about a
year or two years after there has been an economic downturn."
It is a view shared by the Australian International School, which
said numbers may go up towards the end of its academic year in
December. The school said parents may prefer to let their child
complete the year so as not to disrupt their studies.
So far, the signs remain positive, and UWCSEA said it has already
met its enrolment targets for the coming school year.
- CNA/ms