Not reported in main stream media?
Singapore and New York have emerged as the joint-most expensive cities to live in, according to a new worldwide survey.The cost of living in 172 of the world’s major cities rocketed an average 8.1% over the past year, driven by factors including the war in Ukraine and supply-chain snarls, according to the Economist Intelligence Unit’s Worldwide Cost of Living report.
Tel Aviv, which topped the rankings last year, was bumped into third position, while Hong Kong and Los Angeles rounded out the top five priciest places.
Singapore is expected to increase its goods and sales tax (GST) as planned from January 1, 2023, from seven to eight percent. The hike - which would make the most expensive country in the world to live in even more expensive - is only the first of two planned increases in the GST rate as mentioned in the 2022 state budget. The second increase, also by one percentage point, will occur on January 1, 2024.
These are the top 10 most expensive cities in the world, with their 2022 ranking. Some cities are tied.
Singapore — 1
New York, US — 1
Tel Aviv, Israel — 3
Hong Kong, China — 4
Los Angeles, US — 4
Zurich, Switzerland — 6
Geneva, Switzerland — 7
San Francisco, US — 8
Paris, France — 9
Copenhagen, Denmark — 10
Sydney, Australia — 10
Anonymous
5 comments:
Singapore is not only the Number One most expensive city in the world. It has been at the TOP position for 8 consecutive times in just a decade.
Can you imagine how to survive in the world's most expensive city without a job, without an income?
Think of those that have retired or prematurely retired/retrenched in their 40s, 50s, 60s etc and they have 30 to 40 years to live, with no income, no savings and all the bills to pay?
Is the number one position in expensiveness a sign of pride? It seems to be.
On the windfall made by older generations from the HDB flats, Virgo is right. Our children and grandchildren are paying the price and are now being enslaved by expensive HDB flats and some even needed help from their elderly parents. The government is clawing back all the profits of the old by punishing the young.
Sadly, this problem has failed to register among the young, who happily continue to push up property prices that will affect their children in years to come. Does the rise in mental health problems ring a bell?
Oh they will say that mental health problems has nothing to do with expensive HDB flats.
Even the US$275 million loss by Temasek is being brushed aside as small potatoe, just using the argument that it does not affect the billions of reserves held. That is trying to steer away from the real problem with damage control. Any loss, especially of US$275 million is a material issue, whether it affects the reserves or not.
Don't ignore the paper losses of many investments now holding for long long term.
Don't forget the billions they are paying as salaries to the foreigners they hired to gamble with the reserves.
This is a pool of money to be churned by the gamblers to pay themselves when they win and lose never mind, opm. These gamblers are so lucky breed. Hired and being paid like dukes to dude using opm.
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