I lived in Thailand before and while they earn (in US$ terms) less... somehow they can save more (relatively, the money they save goes further if they spend it in their own country) and their children and grandchildren benefit from their hard work.
Singapore? You work hard and they take your money... HDB, COE, Medical, and the stress is very high because you cannot afford to fall sick and if you do... unemployed is a big problem already.... but if you fall sick... die better...
So I guess what I will say is:
Compared to Bangkok
Cost of living --- SGP 2 BKK 8
Quality of living (comparing apples to apples, poor and poor etc) ---- SGP 2 BKK 8
Quality of holistic Education (which includes democracy and thus teach better thinking skills)--- SGP 2 BKK 8
Starting a small to very small business? --- SGP 2 BKK 8
Singapore is ruled by the rich for the rich...