Are Expats a dying breed across SE Asia?

[ASEAN NOW News]

Many foreigners were still seeking jobs, doing business, or just traveling, but because of the pandemic, it isn’t getting any easier.

 

Recently, as requirements are getting stricter to apply for work permits, some foreigners are not allowed to stay in Vietnam anymore and are forced to leave.

 

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There are about 83,500 expats in Vietnam, according to the Ministry of Labour (2019 data) out of a total population is 97,040,334.

 

With rising cost of living affecting everyone due to the current Russian invasion of Ukraine, many Vietnam companies are also concerned about the rising cost of relocating senior international management.

 

The alternative is it is cheaper to source local staff and train them.

 

Singapore expats are declining

 

Singapore’s Ministry of Manpower figures released last week showed that Employment Pass holders - a type of visa issued to foreign professionals, managers and executives earning at least S$4500 ($3300) per month - fell by 9% in the year ended December 2021 to 161,700.

 

While expats say salary is the most important element in the decision to work for an Asian company, culture is the most important factor in deciding to stay, says a Bangkok based recruiting firm.

 

Pay, belief in the company's growth potential and reputation, in that order, are the top three things that would make international professionals take a job at an Asian company.

 

Of course, many expats move for other reasons rather than just money however it is becoming tougher to exist as an expat in SE Asia now.

 

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