In summary we are sharing some notable favorable pointers as well as some probable negative impacts of having foreign workers in Singapore. Foreign workers' contribution had become an important factor in our sustained high economic growth. With a strong economy, we can expect less unemployment, higher bonuses, a stronger currency, attract more investors and tourists alike. Although foreign workers form a vital part of our workforce as a supplement rather than a substitute to our workforce, they have indeed contributed significantly to our economy and their presence has several impacts on our social balance too.
Impacts on Employment
Without doubt, foreign immigrants form a quintessential and integral part of Singapore. But with the increasing number of foreign workers, it has affected the wage differences between professionals and low skilled workers. Through statistics by Ministry of Manpower’s surveys, the median basic wage of cleaners fell from $1015 in 1999 to $900 in 2011. This is in comparison to professionals’ wages, which increased from $3350 to $4380 in the same period.
Based on a paper in 2012 by Singapore National Population and Talent Division, it recognizes the economic need for foreign immigrants, including occupations that Singaporeans feel less willing to take up. Due to its ageing population and declining birth rate, Singapore requires a lot of foreign health-care and domestic workers in the next few years. To continually satisfy infra-structure and housing needs in Singapore, foreign construction workers will continue to be in high demands. Contributing to the Economy
While we know that the economy is determined, on a large part by the workforce, we have to agree that the current shrinking and ageing population does little to ease the woes of our nation. Singapore has since its start as a trading post during its colonial days, depended heavily on trade, export of services and its peoples'...