London the biggest draw for foreign workers, survey finds

Working and living abroad is no longer a dream for those seeking new opportunities in terms of career and finances, with the result that highly skilled workers are now flowing into foreign job markets worldwide.

This urge to get on in life away from home is confirmed by the findings of the Decoding Global Talent Report 2024, conducted by Boston Consulting Group (BCG) in collaboration with The Network and The Stepstone Group, which also listed the "Top 10 Cities Where Foreign Workers Most Want to Relocate for Work in 2024."

London ranks first (9%) as the most popular city for highly skilled foreign workers to relocate to, followed by Amsterdam (8%) and Dubai (7%). Abu Dhabi and New York ranked fourth (7%) and fifth (6%) respectively.

Bangkok ranks 17th among the world's most popular cities for foreign workers. It is one of nine cities from the Asia-Pacific region to make it into the top 30 globally. Other cities from this region that made the list include Singapore (7th), Tokyo (9th), Sydney (10th), Melbourne (14th), Auckland (16th), Beijing (25th), Kuala Lumpur (26th) and Osaka (30th)

The report also indicates that the proportion of people seeking jobs abroad is steadily increasing, despite widespread economic and geopolitical concerns. The number of individuals relocating to work abroad rose to 23% in 2023, up from 21% in 2020. This report is based on a survey of over 150,000 people across 188 countries worldwide.

The analysis of the survey responses identified three main factors driving highly skilled workers to relocate abroad: greater economic opportunities, better career advancement, and the potential for an improved quality of life.

Additionally, the study found that 92% of employers worldwide consider "attracting and retaining talent" to be one of their top three priorities. Hiring foreign workers not only fills gaps in the workforce but also enhances innovation and success within companies that are more racially and culturally diverse. Such multi-cultural companies tend to be more profitable and are 75% more likely to be global innovators.

When considering the factors that make London an attractive destination for highly skilled workers, several key aspects stand out: it is an English-speaking city, has a strong global network with many talented individuals from other countries, offers numerous financial opportunities, Londoners welcome them and are culturally diverse, and provides easy access to other cities in Europe and the United States.

Meanwhile, Singapore is one of the top destinations for highly skilled workers in the Asia-Pacific region. It attracts a significant influx of talent from neighbouring countries such as Malaysia (30%), Thailand (22%), Indonesia (19%), the Philippines (14%), and Hong Kong (13%).

Among those willing to move to Singapore, 74% cited the quality of jobs and career opportunities as the main draws. Additionally, 57% of survey respondents appreciated Singapore's quality of life, including income levels, taxes and cost of living. Furthermore, 55% of respondents highlighted Singapore's excellent safety and security, making it a top destination for work.