- Joined
- Mar 12, 2009
- Messages
- 13,160
- Points
- 0
Have your salaries increased yet if not what the
purpose of this article to lower your pay
The rising cost of living
Singapore the 9th-costliest Asian city in which to live, 67th in the world
by Mok Fei Fei and S Mustafa
05:55 AM Jun 15, 2010
SINGAPORE - Tenth on the list of the most expensive locations in Asia to live in last year, Singapore crept up one notch this year, dislodging locations such as Guangzhou and Shenzhen.
It is now the ninth-costliest Asian location, according to a survey by human resources consultant ECA international.
Not only that, Singapore has also gained six places in ECA's global rankings and is now in 67th position.
A strong currency relative to other major currencies in the region, plus the much faster rise - compared to other developed locations - in prices of goods and services commonly purchased by expatriates have been cited as reasons.
Singapore's rise up the list continues a long-term trend. In addition, the cost-of-living differential between Singapore and Hong Kong has become smaller, said ECA International's regional director (Asia) Lee Quane.
He said this is "a double-edged sword. On the one hand, companies sending staff out of Singapore need to pay lower cost-of-living allowances for an employee to maintain their standard of living on assignment.
"On the other hand, for companies bringing staff into Singapore, allowances will carry on increasing as Singapore continues to rise on the ranking table."
Tokyo regained its status as the world's most expensive city for the first time in five years. The Japanese yen, which has gained in value by about 30 per cent against the United States dollar in the past three years, was a contributory factor.
ECA International said that currency fluctuations continue to be the main factor impacting the ranking of Asian locations.
The strengthening of Asian currencies over the past year, on the back of strong economic performance, has contributed to the higher costs.
Conversely, locations in mainland China have become cheaper, with Shanghai falling 18 places and Beijing dropping 29 places in the global rankings.
This is due mainly to the pegging of the Chinese yuan to the weakened US dollar.
Shooting up from eighth position last year, Norway's Oslo is now the second most expensive city in the world and the most costly European nation.
Luanda in Angola is third.
purpose of this article to lower your pay
The rising cost of living
Singapore the 9th-costliest Asian city in which to live, 67th in the world
by Mok Fei Fei and S Mustafa
05:55 AM Jun 15, 2010
SINGAPORE - Tenth on the list of the most expensive locations in Asia to live in last year, Singapore crept up one notch this year, dislodging locations such as Guangzhou and Shenzhen.
It is now the ninth-costliest Asian location, according to a survey by human resources consultant ECA international.
Not only that, Singapore has also gained six places in ECA's global rankings and is now in 67th position.
A strong currency relative to other major currencies in the region, plus the much faster rise - compared to other developed locations - in prices of goods and services commonly purchased by expatriates have been cited as reasons.
Singapore's rise up the list continues a long-term trend. In addition, the cost-of-living differential between Singapore and Hong Kong has become smaller, said ECA International's regional director (Asia) Lee Quane.
He said this is "a double-edged sword. On the one hand, companies sending staff out of Singapore need to pay lower cost-of-living allowances for an employee to maintain their standard of living on assignment.
"On the other hand, for companies bringing staff into Singapore, allowances will carry on increasing as Singapore continues to rise on the ranking table."
Tokyo regained its status as the world's most expensive city for the first time in five years. The Japanese yen, which has gained in value by about 30 per cent against the United States dollar in the past three years, was a contributory factor.
ECA International said that currency fluctuations continue to be the main factor impacting the ranking of Asian locations.
The strengthening of Asian currencies over the past year, on the back of strong economic performance, has contributed to the higher costs.
Conversely, locations in mainland China have become cheaper, with Shanghai falling 18 places and Beijing dropping 29 places in the global rankings.
This is due mainly to the pegging of the Chinese yuan to the weakened US dollar.
Shooting up from eighth position last year, Norway's Oslo is now the second most expensive city in the world and the most costly European nation.
Luanda in Angola is third.
