Singapore appears to be shutting its doors to foreign talent just as the exodus of expatriates from Hong Kong gathers pace.
The government recently tightened visa rules for white-collar workers, adding hoops to a process that employers already complain is too onerous. Will the city-state miss its golden opportunity to scoop up Hong Kong’s disgruntled elites? Hardly. It’s a different slice of the labor market that will feel the pinch from these stricter measures.
Within a matter of weeks, Singapore introduced a series of dramatic changes to its work visa for highly skilled foreigners, raising the minimum salary requirements and introducing a points system not unlike what’s used in the U.K. and Canada.