Meta and Google setting up regional HQs fuel wage increases amid cloud and AI adoption.
Demand for tech experts benefits the local workforce, which occupies over 70% of roles and is set to drive future growth.
The adoption of cloud computing and artificial intelligence by businesses stands out among a series of tech-driven changes over the past five years, the inaugural Singapore Digital Economy Report said. Demand for tech professionals in Singapore has benefited local workers — which fill more than 70% of tech roles — and has remained robust even after taking a hit from the series of layoffs by global companies over the past year. Salaries in the sector, which employs 200,000, are significantly above Singapore’s median wage and the gap has grown since 2017.
Meta and Google are also collaborating on a major undersea cable project that will link Singapore to the US west coast.
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