It may surprise you that Singapore is the world’s most expensive place to live, but it really shouldn’t. In fact, it is worth noting that Singapore has been ranked the most expensive place to live in the world for three years in a row!
There are a number of elements to this information that are worth keeping in mind.
Singapore Named World’s Most Expensive Place To Live
The Economic Intelligence Unit recently put together their survey on worldwide cost of living. The overall score for Singapore put it at the top of the list with 116. While Zurich and Hong Kong were also strong contenders, garnering 114 each, they still fell short to how intensely expensive it is to live or even visit Singapore.
In the first place, it is important to place this ranking in a global context. There is no question that 2015 was a chaotic year. There isn’t even much question as to whether 2016 is on track to follow the same trend. Global context considers dropping oil prices, dropping commodity prices, geo-political uncertainty, and much more.
Singapore is certainly a spectacular city. It is certainly a metropolis with a decidedly profound impression of both the present and the future. However, those things do not automatically mean that a city can be the most expensive one in the world. Of course, you are going to want to consider a number of factors. For example, in addition to the items mentioned earlier, Singapore does not have much in the way of natural resources. Both energy and water are essentials to any city. Singapore can scarcely bring these things to the people on their own. Therefore, they have to get both their energy and water from other sources. This is a combination that is going to push the cost of living to a staggering degree.
Why Is Singapore So Expensive?
Entitlement fees are another factor to consider, when it comes to Singapore. Simply owning something as simple as a car can net you additional expenses. A few of these can serve to add up very quickly. This is combined with the energy and water costs of Singapore. As you can probably tell at this point, the figure for living in Singapore is starting to rise.
You can really see the high cost of living in Singapore in so many different ways. Even something like a bottle of wine can serve to emphasize just how pricey every little thing in Singapore can prove to be. In Singapore, you can expect to pay around twenty-two dollars and thirty-nine cents for that bottle of wine. Even in a city as expensive as New York, you can expect to pay a little over fourteen dollars for that same bottle of wine. This is just one of the ways in which Singapore proves itself to be so much more expensive than any other city. Food, toiletries, clothes, and transport are just some of the living costs you must consider. All of them are extremely high. This is unlikely to be something that changes anytime soon.
About the author
Nick James writes for Company Stamp Singapore Pte Ltd, where he wrote most of the blog content. He wrote the article “How to re-ink self inking stamps ” and “ Eco Friendly Rubber Stamps “. Company Stamp Singapore Pte Ltd offers the cheapest rubber stamp and self-inking stamps.