Is Australia joining the global competition for talent?

In November 2022, INSEAD, the Pottinger Institute, and the Human Capital Leadership Institute of Singapore jointly released the Global Talent Competitiveness Index (GTCI) report for 2022. The report showed that countries such as Switzerland and Singapore ranked at the top in terms of talent competition, and now talent is seen as a key factor in a country’s development and prosperity. In addition, the report also proposed ways to influence the distribution of talent in the global arena by encouraging, discovering, attracting, and nurturing entrepreneurial talent on a global scale.

Unlocking Boundless Opportunities: Globevisa Launches Singapore First Global Talent Visas One Pass

In August 2022, Singapore’s Minister of Manpower, Tan See Leng, emphasized the pivotal role of maintaining openness and strong global connections is the key to solidifying its position as a global city and thriving business hub. Building upon this vision, the Singaporean government has introduced the Overseas Networks & Expertise Pass (dubbed the One Pass) exclusively designed for exceptional talent. This groundbreaking initiative, which commenced accepting applications on January 1, 2023, aims to establish Singapore as an unrivaled destination for top-tier professionals seeking unparalleled opportunities on a global scale.

Hong Kong vs Singapore: the competition for talent.

Hong Kong and Singapore, these two regions have always attracted entrepreneurs, investors, managers, and elite individuals from around the world to invest and start businesses due to their sophisticated financial mechanisms, strict legal systems, friendly tax rates, and high-quality education. The governments of Hong Kong and Singapore have also been committed to formulating more attractive and precise immigration policies to attract talent.