SINGAPORE is the top choice for companies to send their employees on overseas assignments, a survey of 105 companies has shown.

The survey by PricewaterhouseCoopers (PwC) International Assignment Services (IAS) is the first which focused on understanding international mobility trends and challenges of Singapore-based companies.

The survey polled of 105 multinational companies based in Singapore, including finance giants like Credit Suisse and JP Morgan Chase, Philips Electronics Singapore, Intercontinental Hotels Group Asia Pacific and Kraft Foods.

Singapore was favoured by 70 per cent of the companies, when they were asked to indicate their top three host assignment locations in Asia. China is second (68 per cent), and Hong Kong came in third (32 per cent).

PwC said this is a testament to Singapore's drive to attract foreign talent through the use of government initiatives such as the Personal Employment Pass, and its competitive personal tax rates and concessions.

Other reasons which attract foreigners here are Singapore's stable social and political environment, as well as its good infrastructure.

A high 79 per cent of the companies also felt that Singapore was the easiest location in Asia to localise foreign talent.

The term 'localise' refers to the practice of converting an expatriate remuneration package, which includes base salary, incentive compensation, assignment benefits, social security and pension plans, to one which is enjoyed by locally hired employees.

Despite the darkening financial climate, companies were still fairly upbeat about the flow of foreign talent into Singapore in the near future.

One-third of the companies expected an increase of such employees coming here for long-term assignments, while 22 per cent felt there would be a drop and 37 per cent said the number would stay the same.

For short-term assignments, nearly half felt there would be an increase, and only 8 per cent saw the number falling.

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