S’pore is now richest in the world

It is only because of purchasing power parity that our per capita GDP gets adjusted up significantly. According to purchasing power parity, a product that costs USD $1 in USA costs only USD $0.69 in Singapore. It’s like the iPad that costs USD $499 in USA costs only USD $344 or SGD $433 in Singapore when it actually costs SGD $658. Big ticket items like houses and cars cost only a fraction in USA than they do here. But purchasing power parity will have you think it is the other way round. Another reason why our GDP figures look better than they really are is our high proportion of foreign workers. To illustrate this, we take the example of a family with father and mother each earning $5,000 and two children. The per capita income of the family is $10,000 / 4 = $2,500. Let’s say two foreign workers stay with the family and each earns $5,000 also. The per capita income in th...

Full article: http://sg.news.yahoo.com/s%E2%80%99pore-is-now-richest-in...

Comments

Chua Omar

14 Aug '12, 3pm
Totally Nonsense. Many people are out of jobs in Singapore!!!

Tweets

@blahblehblooo » 12 Sep '12, 10am
[link] @jeslynstone
@naningutoyo » 30 Aug '12, 10am
@andesgrandee [link] the comments are much more interesting than the article
@iSeannay » 26 Aug '12, 1pm
Oh yeah right. Maybe it just means that the income gap between the rich and the poor has become so wide that it... [link]
@jwiderberg » 22 Aug '12, 5am
Singapore now richest country in the world, and projected to stay so for next 25 yrs. [link] (via @davidmorris)
@clarenceong23 » 22 Aug '12, 3am
It's always inspiring the see the country you live in become this good :) [link]
@mgviray » 21 Aug '12, 11pm
Wow! [link]
@beanoalonso » 21 Aug '12, 4am
pfft RT @sgbroadcast: S’pore is now richest in the world: Singapore topped the charts for highest GDP [link] #singapore
@dcatdemon » 20 Aug '12, 6pm
[link] << Yeeaah, SO? HDI (human development index) is more important, FAR more impt than GDP alone. >> [link]
@ChaeyeonSHINee » 20 Aug '12, 12pm
RT @nichforashot: THAT'S NOTHING TO BE PROUD OF LA. IT JUST MEAN THAT EVERYTHING IS EXPENSIVE. "S’pore is now richest in the world [link]"
@nichforashot » 20 Aug '12, 12pm
THAT'S NOTHING TO BE PROUD OF LA. IT JUST MEAN THAT EVERYTHING IS EXPENSIVE. "S’pore is now richest in the world [link]"
@KingWlthNoCrown » 20 Aug '12, 7am
Singapore Slays Your Cuntry RT @HausOfYusuff KingWlthNoCrown [link] …
@IsmaiL2Kool » 20 Aug '12, 7am
RT @HausOfJovan: Singapore is now richest in the world. [link]
@ilanadelrey » 20 Aug '12, 7am
@KingWlthNoCrown [link]
@stephenrbreen » 20 Aug '12, 6am
Singapore's human capital she's it to the top! [link]
@derpyjonghyun » 19 Aug '12, 4am
Holy. [link]
@Ticreslce » 18 Aug '12, 1pm
Woah #proud RT @yingggs: Right. what did I just see “Singapore now the richest country in the world by GDP per capita. [link]”
@lECLIPSEDl » 18 Aug '12, 1pm
S'pore richest country in the world currently. [link]
@lusteringkisses » 18 Aug '12, 12pm
RT @EpicParadoxxx: "S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg" Well, but i am poor. :(
@weeleee » 18 Aug '12, 9am
Singapore richest in the world? Bullshit, its an unbalanced economy, the gap between the rich & the average man is huge [link]
@KodomoSim » 17 Aug '12, 9am
RT @vxnny: But not me :( RT @YahooSG: S’pore is now richest in the world [link]
@sugarybowties » 17 Aug '12, 5am
wow. [link]
@gwendolynllx » 17 Aug '12, 2am
RT @zoeraymond: Oh wow! Singapore is now richest in the world! [link]
@yaansarmiento » 16 Aug '12, 11pm
That side of the world is looking better and better [link]
@third3finger » 16 Aug '12, 9pm
S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg BIG LOL
@Missfaithfee » 16 Aug '12, 12pm
RT @yifengtothemars “@suhaelm: S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg
@zomdyyyifeng » 16 Aug '12, 11am
“@suhaelm: S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg homigad!” Kidding mehhhh?
@PeasPeace » 16 Aug '12, 11am
[link] pahhh we're still broke
@mkraay » 16 Aug '12, 10am
Was wondering why I felt so at #home in #Singapore... [link]
@elyanee » 16 Aug '12, 9am
[link] which is why im randomly gonna have dinner at swensens tonight
@elyanee » 16 Aug '12, 9am
RT @suhaelm: S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg homigad!
@suhaelm » 16 Aug '12, 9am
S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg homigad!
@naningutoyo » 16 Aug '12, 9am
RT @della_w: S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg
@NatalieTrog » 16 Aug '12, 8am
S’pore is now richest in the world - PUKE. [link]
@saranadiah » 16 Aug '12, 5am
RT @heyfanaa: RT @YahooSG: Singapore is now richest in the world, [link]
@fetusyeoI » 16 Aug '12, 4am
Then why am I still using a desktop? I should have a mac :l [link]
@mizdi » 16 Aug '12, 3am
S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg (interesting comments here from Singaporeans)
@Farna » 16 Aug '12, 3am
Singapore is now richest in the world... Wait, let me just... HAHAHAHAHAHA :-/ :( :| What a joke. [[link] via @yahoosg]
@DearRussell » 16 Aug '12, 2am
Wow. Singapore is now the richest country in the world. Even surpassing Norway. [link] New facts for your teachers now.
@arasugamyaj » 16 Aug '12, 12am
@ABSCBNNews eh bakit ganun kasama sa top richest countries in the world hndi ganun kadami population? [link]
@hiroaki_shino » 16 Aug '12, 12am
いつの間にやら、Japanはトップ10にもいない。S’pore is now richest in the world - Yahoo! News Singapore [link] @yahoosgさんから
@SixStoneJars1 » 15 Aug '12, 9pm
S’pore is now richest in the world - Yahoo! News Singapore [link] #sixstonejars1
@NewPuteri » 15 Aug '12, 7pm
#Singapore tops #GDP per capita [link]
@nishakira » 15 Aug '12, 6pm
So Singapore is now the richest country in the world huh... Sadly we can't say the same about the citizens. [link] #fullofshit
@NurulhudaJ » 15 Aug '12, 4pm
pft, puhlease, its the govt not the Singaporeans. [link]
@alwaysjerricky » 15 Aug '12, 3pm
[link] TOP FEW OF 2050 ALL ASIAN COUNTRIES!
@gracekhoo1204 » 15 Aug '12, 12pm
RT @fourteenwishes: RT @chanchanychan HOHOHO RT @khairiah23:  @YahooSG: S’pore is now richest in the world [link]
@Birdy_Yasshi » 15 Aug '12, 12pm
ですって。よかったねー。 S’pore is now richest in the world - Yahoo! News Singapore [link] via @yahoosg
@PuppyAndCream » 15 Aug '12, 12pm
S’pore is now richest in the world - Yahoo! News Singapore [link] || hmmmmm...
@illusivesdream » 15 Aug '12, 12pm
RT @LowKayHwa: Singapore= richest country in the world.Why I don't feel rich? [link]
@LowKayHwa » 15 Aug '12, 12pm
Singapore= richest country in the world.Why I don't feel rich? [link]