Updated UBS study:
Singapore is 9th most expensive city in the world
Why is Singapore 9th expensive
city but our salaries so low .
What is wrong ?
January 3rd, 2011 | Author: Contributions
According to the updated UBS study ‘Price and Earnings’ released in August last year,
Singapore is now the 9th most expensive city in the world (if rents are included).
It is the second most expensive city in Asia after Tokyo. (download full study here)
Heading the list is Oslo, Zurich, Geneva, Tokyo and Copenhagen. However, the
citizens of all the cities which are more expensive than Singapore have higher
wages and domestic purchasing power.
The same study also revealed that Singaporeans have relatively low domestic
wages and purchasing power compared to other first world nations and is the
lowest among the Asian Tigers. While Singapore may have a first world
economy and infrastructure, its citizens do not enjoy the standard of living
befitting of a first world nation.
With inflation running at an all-time high of 3.8 percent, an increasing number
of Singaporeans are struggling to make ends meet with their meager wages
which have more or less remained stagnant.
The median monthly wages of an average Singapore worker is only $2,500
which is far below that of workers in other first world nations.
Despite the ’spectacular’ growth of Singapore’s economy at 14.7 percent
last year, the fruits of the growth is not distributed equally among
Singaporeans due to the open-door immigration policies of the government
which allow the rapid influx of cheap foreign workers to boost the GDP
growth artificially while depressing the wages of locals at the same time .
Singapore is 9th most expensive city in the world
Why is Singapore 9th expensive
city but our salaries so low .
What is wrong ?
January 3rd, 2011 | Author: Contributions
According to the updated UBS study ‘Price and Earnings’ released in August last year,
Singapore is now the 9th most expensive city in the world (if rents are included).
It is the second most expensive city in Asia after Tokyo. (download full study here)
Heading the list is Oslo, Zurich, Geneva, Tokyo and Copenhagen. However, the
citizens of all the cities which are more expensive than Singapore have higher
wages and domestic purchasing power.
The same study also revealed that Singaporeans have relatively low domestic
wages and purchasing power compared to other first world nations and is the
lowest among the Asian Tigers. While Singapore may have a first world
economy and infrastructure, its citizens do not enjoy the standard of living
befitting of a first world nation.
With inflation running at an all-time high of 3.8 percent, an increasing number
of Singaporeans are struggling to make ends meet with their meager wages
which have more or less remained stagnant.
The median monthly wages of an average Singapore worker is only $2,500
which is far below that of workers in other first world nations.
Despite the ’spectacular’ growth of Singapore’s economy at 14.7 percent
last year, the fruits of the growth is not distributed equally among
Singaporeans due to the open-door immigration policies of the government
which allow the rapid influx of cheap foreign workers to boost the GDP
growth artificially while depressing the wages of locals at the same time .
Then I wonder why Singapore has such a bad reputation democracy wise.
