Fintech, a tech-driven industry devoted to making financial activities more accessible to consumers, is one of the fastest growing industries in the world. Many fintech hubs are located in Asia Pacific, with millions in global VC deals taking place in Singapore, Japan, Australia, Hong Kong and more. Nonetheless, fintech is an especially difficult field for women to break into, especially in countries with a large gender gap.
For some, Singapore's overall ranking may come as a surprise. The nation has the strongest fintech market in the region, with market-leading ratings in tech readiness and ease of doing business, high concentrations of fintech start-ups, and an incredible US$453 million in fintech investments this year alone. In both strength of current fintech and business climate, Singapore outranks Australia. However, a few things detract from Singapore's score–primarily, relating to women.
It doesn't help that Singapore ranks as the world's most expensive city, according to a report by The Economist Intelligence Unit. Receiving lower wages in a costly environment would widen the gender gap and could decrease quality of living for women.