S'pore less attractive to expats: Survey
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S'pore less attractive to expats: Survey
Island slowly edging its way up the list of costliest cities
Singapore may be gradually losing its competitive edge to regional rivals like Hong Kong as the rising cost of living deters expatriates from coming here.
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This is according to a survey by human resource body ECA International, which compared the costs of 128 consumer goods and services purchased by expatriates in more than 300 cities. They include groceries, drinks and tobacco, clothing, motoring expenses and restaurant meals. Accommodation, car purchase and children's school fees are not included because they are usually provided as part of expat packages.
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According to the survey, Singapore is the ninth most expensive city in Asia this year, up a notch from last year — 122nd worldwide, up 10 rungs. Hong Kong's ranking has remained unchanged as the fifth most expensive location in the region and 79th worldwide.
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In a head-to-head comparison, Hong Kong is 12 per cent more expensive than Singapore, Shanghai 5 per cent more expensive, while Kuala Lumpur is 30 per cent cheaper, ECA told Today.
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The most expensive city in Asia for expats is Seoul, followed by Tokyo and Yokohama. Worldwide, the most expensive city is Luanda, the capital city of Angola, followed by Oslo and Moscow.
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The consumer price index (CPI) in Singapore jumped 3.6 per cent last month from that of a year earlier, the fastest pace in more than 16 years, the Department of Statistics said last week. Contributing to the rise was the 2-percentage-point increase in the Goods and Services Tax (GST) in July and the surge in oil prices.
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"The recent rise in GST and overall rising inflation resulting in higher CPI have all contributed to pushing up living costs in Singapore. This, together with no change in Hong Kong's position, means that the gap is closing between the two traditionally competitive locations," said ECA, the world's largest membership organisation for human resource professionals.
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The strengthening of the Singapore dollar to a 10-year high against the United States currency this month has also made the cost of living dearer for expatriates.
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"Companies that need to send employees into Singapore will now have to apply higher cost of living indices to salaries to guarantee their personnel's spending power," said Mr Lee Quane, general manager of ECA International in Hong Kong.
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Mr Quane's observation highlights the dilemma faced by the Singapore Government. The threat of an inflationary spiral has prompted calls for the Monetary Authority of Singapore to let the local dollar strengthen further but there are concerns among the business community that a stronger local currency will hurt export competitiveness and diminish the island's attractiveness as a business hub. -
oh no, how are we going to move on without FTs
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With FT S'poreans complaint...... without FT S'poreans also complaint......
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The stupid FTs are the reason our living costs keep going up.
Of course we not happy! This only proves one thing, they all suffer from cancer of the colonial. Uncontrollable urge to get go where they can exploit and pillage!! -
Agree. Blame the FW. Dun call them FT lar.
FW - Foreign Worker -
sg FTW!
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In any country, local produce will be the main source of resources e.g. food. Locally produced being the cheapest. Now we know, Singapore is not self sufficient, in terms of natural produce. We are already way past our point critical mass of self sufficiency. The more we import, the more we are at the mercy of international/external market forces. Either we stay, bite the bullet and slog, or we find a way out.
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i really feel sorry for the occupants of this expensive singapore 'city'.
fine if its a city, but its a country, and the locals stuck there have no cheaper countryside to escape to, unlike the other expensive cities.
they are screwed -
2.do u think aussie/new zealanders can escape to rural areas?Originally posted by boredtulan:i really feel sorry for the occupants of this expensive singapore 'city'.
fine if its a city, but its a country, and the locals stuck there have no cheaper countryside to escape to, unlike the other expensive cities.
they are screwed
Tell me which countries urban dwellers can run away??
3.Singapore Still the Best Place in the World for Asians to Live In According To Survey - 14 March 2007---how about non--Asians?
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Originally posted by lionnoisy:
Don't bring in Australia/NZ when you don't even stay there.
2.do u think aussie/new zealanders can escape to rural areas?
Tell me which countries urban dwellers can run away??
3.[b]Singapore Still the Best Place in the World for Asians to Live In According To Survey - 14 March 2007---how about non--Asians?[/b] -
Originally posted by lionnoisy:
ohh!!!! ...sure , sure,,,,, I believe every word you say. u doon belif me what i said meh?
3.[b]Singapore Still the Best Place in the World for Asians to Live In According To Survey - 14 March 2007---how about non--Asians?[/b] -
actually, all these still nothing compared to the mudder of all REASONs.Originally posted by boredtulan:i really feel sorry for the occupants of this expensive singapore 'city'.
fine if its a city, but its a country, and the locals stuck there have no cheaper countryside to escape to, unlike the other expensive cities.
they are screwed
Which. I cannot am at liberty to say.
U should know.
Jing Zai Bu Yen Zong.
Not saying anything is also communication.