Singapore’s complete inhabitants grew by 3.4% to five.64 million as of June, after shrinking over the previous two years throughout the COVID-era.
According to the Department of Statistics, the variety of residents of Singapore elevated by 1.6% to three.55 million, whereas the non-resident inhabitants, together with employees and college students, climbed 6.6%.
The development comes as the federal government tries to draw prosperous foreigners and gifted professionals to compete with Singapore to change into the highest monetary hub in Asia.
By comparability, Hong Kong introduced a decline of 1.6% in mid-2022 because it struggled with inhabitants outflows throughout the COVID lockdown. According to recruitment agency Robert Walters, greater than 700 finance professionals from regional rival Hong Kong moved to the city-state final 12 months.
Singapore’s non-resident inhabitants shrank to its lowest stage in 10 years in 2021, as a slowing economic system accompanied journey curbs and a tighter stance towards chopping international labor.
The mid-year report additionally confirmed that Singapore’s age continues to rise, because the median age for residents within the city-state has elevated from 41.8 years to 42.1 years.
With inputs from TheIndianEXPRESS
