Singapore has been ranked the second most expensive city in
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SINGAPORE : Singapore has been ranked the second most expensive city in Asia, after Tokyo, with Hong Kong taking the third position.
In UBS' Prices and Earnings 2009 study released on Thursday, Singapore is ranked 24th globally, in a comparison of living costs in 73 cities around the world. The study was based on data collected between March and April this year.
It found Oslo, Zurich, Copenhagen, Geneva, Tokyo and New York to be the world's priciest cities based on a standardised basket of 122 goods and services. Mumbai, Delhi, Manila and Kuala Lumpur are cities with the lowest price levels.
The study said: "Asia is home to some of the world's priciest cities and nowhere is the spread between most expensive and cheapest more pronounced."
Employees in Copenhagen, Zurich, Geneva and New York have the highest gross wages, but Zurich and Geneva top the rankings in the international comparison of net wages.
In Asia, employees in Tokyo earn the highest wages, and are ranked 18th globally. Their salaries are about two times higher than those in Singapore, which came in at 40th globally. Manila, Jakarta and Mumbai are at the bottom of the table.
As for working hours, people work the longest hours in Asia and the Middle East, and the shortest in France. People work an average of 1,902 hours a year in the surveyed cities, but those in Asian and Middle Eastern cities work an average of 2,119 and 2,063 hours a year respectively.
Overall, Cairo employees work the longest hours, averaging 2,373 hours a year, followed by Seoul with 2,312 hours. In comparison, people in Lyon and Paris spend the least amount of time at work - putting in about 1,582 and 1,594 hours a year respectively.
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Expensive city but our wage is very very low., our wage is very very cheap. It is tough to make ends meet in sg with low wages. moreover, the sickening bloody ruling party keeps increasing the costs of living.
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damn! why not first?!
we must be first in eberyting worrrrr -
soon it will first :mrgreen: very very soon
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Very soon very soon, sg will be first.
Then sg will also be on the list for most expensive city but pay lowest wage among the expensive cities.
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cham liao...eat maggie mee
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singaporeans are really poor thing.
country run and dominated by the rich.
we singapore need our own OBAMA as our next PM.
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soon... everything will increase again!!
chicken rice 4 bucks!
Cai Png 4 bucks also!!
thunder party will quote
We must be ready to transform Sg
into a Global Society, where every aliens
from different planet come and stay and work with us
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but i thot we got lot of mamas already...those indian shops mamas also sell very expensive one...and alway like to disturb me.
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Woah!
Jialat jialat not a very good news for us!
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hanor Now Sg become 2nd most exp city
there my client read the news !!
wow liao
better sell my condo at a higer price!!
knn sell so cheap for wat
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people jia png, u go jia lat..funny??
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Originally posted by angel7030:
people jia png, u go jia lat..funny??
Me no more png to jia how funny can that be? -
Originally posted by Day Dreamer:
Me no more png to jia how funny can that be?
bo png jia, jia maggie mee lor -
ppl have chef flew to japan just to buy ingredients to cook for them, they enjoy such sumptous, expensive meal, we the ordinary folks chum chum
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my maid also go philippine and buy pineapple for me mah
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So what does this article mean?
We should all migrate?
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Originally posted by automator:
So what does this article mean?
We should all migrate?
can go demand govt set minimum wage for locals
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woaaa!!!
singaporeans must be very rich leh.!!
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Singapore now a more expensive place than Hong Kong
Singapore is now ranked the second most expensive place in Asia after Tokyo with Hong Kong in third position.
In UBS’ Prices and Earnings 2009 study released on Thursday, Singapore is ranked 24th globally, in a comparison of living costs in 73 cities around the world. The study was based on data collected between March and April this year.
It found that while Tokyo is a more expensive place than Singapore, its employees are paid more than two times the salaries of those in Singapore.
The relentless influx of foreigners is one key reason for the high inflation rate which hit a record high of 6.7% last year.
Besides competing with the locals for the limited jobs available, foreigners also help to depress their wages. The median wage of the lower income group has declined during the last decade which has witnessed robust GDP growth.
The high cost of living is a primary concern of most Singaporeans, but was not even addressed by the Prime Minister during his National Day Rally.
The Good and Service Tax (GST) was raised to 7% in 2006 to “help the poor”, according to the Prime Minister then. The Minister in the Prime Minister’s Office Lim Hwee Hua is adamant that there will be no GST cuts even if the economy were to worsen subsequently.
Ordinary Singaporeans will again bear the brunt of the inflation, with price increases noted in living necessities, public transport, services and public housing.
The government has done little to alleviate the concerns on the ground other than reassuring the populace of the many schemes available to help them. However, one must be reduced to almost “destitute” status to qualify for cash handouts from the state.
The middle class, which earns between $2,000 and $5,000 monthly will have to tighten their belts in anticipation for further hike in prices in the months ahead.
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Sighs......
High cost, perpetual low income.
Disequilibrium.
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Do you guys really need to read this report to tell you that Singapore is one of the most expensive cities in Asia???
This report are for politician who are out of touch with the main street of Day 2 Day Singaporean.
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I wonder what's the purpose of releasing this information in the ST.
They usually don't report unfavourable news - unless there is some other deeper purpose.
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1 thing we can do to salvage the situation is to vote for the opposition party in the next election
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Originally posted by Fantagf:
ppl have chef flew to japan just to buy ingredients to cook for them, they enjoy such sumptous, expensive meal, we the ordinary folks chum chum
at least we are not searching rubbish bin for food.