Expats & Tourists Find Singapore Is First World
The City-State of S.E. Asia Lures But The Cost of Living Is High
Mar 1, 2009
Singapore has been described as many things- from the classical entrepôt where it imports resources to churn out value-added goods, to the nanny state with its fines for spitting and its caning with the rotan. But, as travel writer Paul Theroux said "Singapore thinks of itself as an island of modernity in a backward part of Asia". Without question it is a first world city among third world neighbours. For the 100,000 expat professionals and 10 million tourists a year, It is a high-end city with a world class cost of living.
Siren Singapore
Singapore has many attractions but not without a price. Mercers survey of cost of living ranked Singapore at 13th in the world's list of most expensive cities in 2008, costlier than New York and Toronto. Nevertheless, some reasons for foreigners to sample the city are:
- 4.8 million people in a clean, well-planned, efficient and secure urban environment- an absence of graffiti, homeless, and garbage coupled with easy transit (air conditioned buses, taxis and the Mass Rapid Transit or MRT), excellent shopping, and exotic surroundings. You can smoke on the streets but don't litter your butts or you may be fined $1000. Also tipping is not expected!
- integrated and harmonious cultures of Chinese (77%), Malay (14%) and Indian (7%) in discrete districts like Chinatown, Little India and Arab St or along the Esplanade (Boat and Clark Quays) for multicultural dining.
- ranked as the world's easiest city to do business; Singapore is easier than Hong Kong (4th), the US (3rd) and Canada (8th) according to the World Bank's Doing Business 2009 Report.
- expats rank Singapore highly- least corrupt country in Asia, the best skilled and motivated labour force in Asia Pacific, the 2nd best investment potential in the world for 14 years; so that it is the city in Asia that they most want to work, live and play in
- Jennifer Fishbien in Business Week (May 16, 2008) reported that Singapore was second only to the US in world competitiveness according to the Swiss school of business IMD's 20th report. The International Monetary Fund says that Singapore's purchasing power is 5th in the world at almost $50,000 per capita.
Costly City
Singapore welcomes tourists and expats who can facilitate the city's leg up on competition. But there is a cost (of living) that can leave one singing poor. For instance,
- On "Orient Expat, Singapore", it reports that driving a car is very expensive requiring a Certificate of Entitlement which can cost thousands. One's experience was that a 10 year old Honda Civic with 5 years COE remaining costs $35,000.
- a two bedroom apartment will cost around $4000 SGD in a desirable area, approximately, $3200 Canadian per month
- a latte will cost over $5.00 SGD, a sirloin steak will be $40.00 SGDa kilo.
- there will be a plethora of electronic goods and brand name iconic shopping but there will not be "great deals"
Singapore remains the best hub to the region of Southeast Asia. Export Development Canada recently moved its Asia operations headquarters to Singapore. Gretchen Bozak, Canadian Regional Trade Commissioner posted to Singapore says she is acutely aware of the high cost of living in Singapore but the city offers the best infrastructure and opportunities for tapping into Southeast Asia.
References:
Paul Theroux, The Great Railway Bazaar (Penguin, 1975), p. 266
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