07 Dec '11, 6am

Singapore is now the 6th most expensive country in Asia to live in

SINGAPORE - Singapore is now 6th in a ranking of the most expensive locations in Asia to live in, surpassing rival business hub Hong Kong, which has fallen to 9th, according to ECA International's Cost of Living index. The ECA survey for September this year, whose findings were released yesterday, reflected in large part the impact of the rising value of the Singapore dollar on many businesses. Salaries, rent and other expenses have become more costly for companies that earn the bulk of their revenues in a weaker currency. The other chief factor is the 5.7 per cent rise in the average price of goods and services this year in Singapore, the ECA report said. The survey does not include the cost of housing or things like childcare and school fees. But it does include food prices, clothing, electrical goods and cars. Singapore was ranked 8th in Asia, behind Hong Kong's 6th, in...

Full article: http://www.todayonline.com/Business/EDC111207-0000095/It-...

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Singapore is 6th most expensive city in Asia

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