Singapore has lowest domestic purchasing power & wages among Asian Tigers

[temasekreview]

The worldwide study conducted and released by UBS lately, titled “Price and Earnings 2009″ has some unflattering results for Singapore. (download the study here)

While our economy has the highest GDP (PPP) per capita in Asia at $49,288 according to a World Bank report (source: Wikipedia), our people do not enjoy a quality of life which commensurate with it.

Though we are technically a developed first world country, some economic indictators as shown by the UBS study suggested that Singaporeans are not that better off than those in Third World countries.


Low wages

Singapore has a GDP (PPP) per capita higher than Switzerland, but our wages are way below the Swiss.

The UBS study found that employees in Copenhagen, Zurich, Geneva and New York have the highest gross earnings. With its extremely high gross wages and comparatively low tax rates, Switzerland is a very employee-friendly country.

The net wages used have been deducted for taxes and social security.

Zurich and Geneva have wage indices (gross) of 119.8 and 107.5 respectively. In contrast, Singapore has a wage index of only 31.3, comparable with Moscow (30.9), Tallinn (28.7) and Johannesburg (26.7).

In the Asia-Pacific region, it is exceeded by Tokyo (83.0), Sydney (74.1), Auckland (44.1), Hong Kong (42.3), Taipei (35.5) and Seoul (32.3)

Read rest of article here:

http://temasekreview.com/?p=12170

 

[Watchman]

With great thanks to this gentleman here !

We are living way beyond our times and way behind in our ways !

 

[Watchman]

 

[singveld]

By manipulating the property price in singapore, PAP have increase GDP and by increasing the FT and FW, they are able to deflate salary.

I will not say we are 3rd world country but we are not in swiss standard of living.

The worldwide study conducted and released by UBS lately, titled “Price and Earnings 2009″ has some unflattering results for Singapore. (download the study here)

While our economy has the highest GDP (PPP) per capita in Asia at $49,288 according to a World Bank report (source: Wikipedia), our people do not enjoy a quality of life which commensurate with it.

Though we are technically a developed first world country, some economic indictators as shown by the UBS study suggested that Singaporeans are not that better off than those in Third World countries.


Low wages

Singapore has a GDP (PPP) per capita higher than Switzerland, but our wages are way below the Swiss.

The UBS study found that employees in Copenhagen, Zurich, Geneva and New York have the highest gross earnings. With its extremely high gross wages and comparatively low tax rates, Switzerland is a very employee-friendly country.

The net wages used have been deducted for taxes and social security.

Zurich and Geneva have wage indices (gross) of 119.8 and 107.5 respectively. In contrast, Singapore has a wage index of only 31.3, comparable with Moscow (30.9), Tallinn (28.7) and Johannesburg (26.7).

In the Asia-Pacific region, it is exceeded by Tokyo (83.0), Sydney (74.1), Auckland (44.1), Hong Kong (42.3), Taipei (35.5) and Seoul (32.3)

Read rest of article here:

http://temasekreview.com/?p=12170

 

[Watchman]

This is the only way to go since everyone is so smart now.

Only way to control is by oppression and taxation.

 

[2lanu]

Not to forget white scums' wages in million$$$. That's out of any scales or charts that one find. They are going to raise it even higher! :oIo:

Uniquely Singapore. One country 2 contrasting different system!

 

[coolguy]

We are a first class government and sg has come to what it is today is all because of us. If these group of people were to leave, sg will lose it's competitiveness and it will be in dire straits. Hence we need to compenssate them with the best renumeration if not more if we need to retain these talents. The quality of life of sinkies has improved tremendously in 4 decades with first class housing, transport and infrastructure facilities. It will be naive and superficial to judge by the salaries alone, as price of food and living has only increased minutely during these 4 decades. Price for housing has been heavily subsidised throught the CPF scheme and other housing loan schemes and installment plans. The education of young sinkies has raised to first world status. More and more sinkies have obtained university degrees.
The percentage of educated sinkies are the highest among the world. If you look at other first class developed countries, their national education level fare way low below us...............................:oIo:

 

[halsey02]

They forgot to mention that SINgapore have the highest paid ministers of State on PLANET EARTH; and one eats mee siam mai hum.

What do you expect?, the average worker is struggling to pay for a bowl of MEE SIAM alone from the one & only..kopi- TIAM, at S$3.30, and that is without hum ( cockles), not to mention, plus a bottle of so called , ALpheus mineral water water cost S$1.50...how to survive on S$800 salaray?

:p

 

[woofy]

And yet survey by some idiots says that Singaporean are the happiest in Asia

 

[halsey02]

And yet survey by some idiots says that Singaporean are the happiest in Asia

They paid the Nipponese to do the survey, and they are so desperate for money these days, that; they will even do a survey on , "How happy their mothers are, wearing their bra backwards"...

 

[jacobsgoh]

With great thanks to this gentleman here !

We are living way beyond our times and way behind in our ways !

He is not at fault, he is only the PM[ProxyMinister] his father is the owner of Leeapore.

 

[scroobal]

Avantas, at least give credit to Viswa for this. It did not fall off the sky and onto your desk.

The worldwide study conducted and released by UBS lately, titled “Price and Earnings 2009″ has some unflattering results for Singapore. (download the study here)

While our economy has the highest GDP (PPP) per capita in Asia at $49,288 according to a World Bank report (source: Wikipedia), our people do not enjoy a quality of life which commensurate with it.

Though we are technically a developed first world country, some economic indictators as shown by the UBS study suggested that Singaporeans are not that better off than those in Third World countries.


Low wages

Singapore has a GDP (PPP) per capita higher than Switzerland, but our wages are way below the Swiss.

The UBS study found that employees in Copenhagen, Zurich, Geneva and New York have the highest gross earnings. With its extremely high gross wages and comparatively low tax rates, Switzerland is a very employee-friendly country.

The net wages used have been deducted for taxes and social security.

Zurich and Geneva have wage indices (gross) of 119.8 and 107.5 respectively. In contrast, Singapore has a wage index of only 31.3, comparable with Moscow (30.9), Tallinn (28.7) and Johannesburg (26.7).

In the Asia-Pacific region, it is exceeded by Tokyo (83.0), Sydney (74.1), Auckland (44.1), Hong Kong (42.3), Taipei (35.5) and Seoul (32.3)

Read rest of article here:

http://temasekreview.com/?p=12170

 

[Papsmearer]

We are a first class government and sg has come to what it is today is all because of us. If these group of people were to leave, sg will lose it's competitiveness and it will be in dire straits. Hence we need to compenssate them with the best renumeration if not more if we need to retain these talents. The quality of life of sinkies has improved tremendously in 4 decades with first class housing, transport and infrastructure facilities. It will be naive and superficial to judge by the salaries alone, as price of food and living has only increased minutely during these 4 decades. Price for housing has been heavily subsidised throught the CPF scheme and other housing loan schemes and installment plans. The education of young sinkies has raised to first world status. More and more sinkies have obtained university degrees.
The percentage of educated sinkies are the highest among the world. If you look at other first class developed countries, their national education level fare way low below us...............................:oIo:

What is the use of all this high education when a S'porean cannot get a good job? No point studying like crazy at uni to get a $1200 job. Or worse, employers prefer to higher foreign FT uni degree holders for less than that.
As for housing, transport, and infrastructure, all I can say is that looking at our northern neighbour with their inept govt., they also have all of this. U attribute too much to the PAP.

 

[makapaaa]

Though Malaysia is still a developing country and has a GDP (PPP) per capita of only $14,215, less than 3 times of ours, the ordinary Malaysian citizen has about the same domestic purchasing power as the Singaporean.

No wonder Msians working in Peesai can retire like kings and queens in Msia!

 

[makapaaa]

An average wage earner is Zurich and New York can buy a nano from an Apple store after nine hours of work. A Singapore worker will have to work three times longer after 27.5 hours.

And a lan cheow leegally corrupt PAPee minister can do so in a split second of jiat liao bee?

 

[longbow]

I think GDP figures not accurate. Perhaps this is what is happening.

For example Pfizer sells each Viagra pill for $2. Their cost to produce each pill in the factory in Singapore is 2 cents. Much of the "value" markup is the patent then have on the drug. So GDP figures will take into account the $2 per pill selling price. But actual benefit for Singapore economy is 2 cents. So you have high GDP but low purchasing power.

Reason Pfizer is doing this is not because just because Singapore has good infra, workers, roads .... Very simple - because Singapore has FTA and other tax treaties with USA that will allow company to enjoy lower taxes by making it in Singapore.

 

[Watchman]

What is the use of all this high education when a S'porean cannot get a good job? No point studying like crazy at uni to get a $1200 job. Or worse, employers prefer to higher foreign FT uni degree holders for less than that.
As for housing, transport, and infrastructure, all I can say is that looking at our northern neighbour with their inept govt., they also have all of this. U attribute too much to the PAP.
Reply With Quote

If there is no solution to generate up-trend for the economy with jobs and savings.

Then having people living in debts before they even get a job is a success too .

 

[R4g3]

And yet survey by some idiots says that Singaporean are the happiest in Asia

That survey is done at 2006. It is an outdated survey.

Only shameless and disgusting govt + media will use that to convince people that most people are happy.

 

[makapaaa]

And yet survey by some idiots says that Singaporean are the happiest in Asia

Using 2006 data when 2009 data are already available.

 

[makapaaa]

What is the use of all this high education when a S'porean cannot get a good job? No point studying like crazy at uni to get a $1200 job. Or worse, employers prefer to higher foreign FT uni degree holders for less than that.
As for housing, transport, and infrastructure, all I can say is that looking at our northern neighbour with their inept govt., they also have all of this. U attribute too much to the PAP.

Indeed, the FTrash have learnt that too. Look at the no. of FTrash property agents and hawkers n u'll know that the Leegime does not have a real economy.