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Singapore Prime Minister Lawrence Wong tops world leaders salary charts; Shopee, Lazada and Amazon lead Singapore e-commerce traffic as $13 billion market in sight: Singapore live news
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Singapore Prime Minister Lawrence Wong outpaces all world leaders with an annual salary of $2.20 million, according to Forbes. PM Wong earns significantly more than his counterparts in Switzerland, Australia, the United States and Austria, who round up the top 5 best-paid leaders. Read more on the salaries of world leaders here.
Singapore's e-commerce sector continues to flourish, with Shopee, Lazada and Amazon topping the charts as the most visited sites. The market’s gross merchandise volume (GMV) is on track to grow to $13 billion by 2025, according to business intelligence platform Statista. As Singapore leverages its digital infrastructure, new collaborations and updates from major players like SingPost, Cainiao and Taobao highlight the evolving landscape. But as Singapore's e-commerce booms, scams and frauds are on the rise too. Learn how you can better protect yourself from common frauds and scams here.
Singapore ranked 14th in the 2024 Best Countries list, according to US News & World Report. Known for its strict laws and high living standards, it’s a hub for international trade and innovation despite facing challenges from space constraints, among others. Read on to know which nations made it to the 2024 Best Countries rankings here.
With fluctuating real estate markets globally, many investors are looking beyond traditional locations. Singapore, Sapporo, Tbilisi, and Playa del Carmen stand out as top international cities for real estate investment. Find out what makes Singapore attractive for potential buyers.
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Singapore Prime Minister Lawrence Wong is the highest paid world leader
Singapore's Prime Minister earns the highest salary among world leaders at $2.20 million. (Photo: Lionel Ng/Bloomberg) (Bloomberg)
Singapore’s Prime Minister Lawrence Wong is the highest-paid world leader, earning $2.20 million annually.
According to Forbes, Wong's salary puts him in front of the heads of Switzerland, Australia, the United States and Austria, which make the top 5 best-paid leaders.
Wong’s pay is notably high compared to Singapore’s GDP per capita, which further underscores his top position globally.
Compared to developed countries, Wong's compensation showcases Singapore's different valuation of political leadership in terms of financial reward.
Singapore’s approach contrasts with typical developed countries where compensation is generally lower relative to GDP per capita, illustrating a unique national prioritisation.
Early this year, the government deferred the 2023 ministerial salary review, citing geopolitical tensions and economic risks as reasons for deferring the assessment.
Find out more about the salaries of other world leaders here.
