Yes it's very popular in western countries, everyone I know who did that really enjoyed Working Holiday Experience. So far, I never heard someone who said he or she regret.
Think even for a gal it's okay (of course it depends on the country...) , even if it's not as safe as Singapore
I think I would also advise you Australia or NZ as a first step, cause it's not so far from here, lifestyle is cool, and there are many people doing same working abroad experience you can meet.
I come from france so I can say Europe could be a good idea ... but I think if you consider Europe, you better choose northern Europe capitals (like Berlin, Stockholm, Copenhagen ...) , cause in southern Europe, people often don't make effort to speak english, so you have to know a bit of local language.