yokine9a 1 Report post Posted March 11, 2009 March 10, 2009 - Currency swings cost S'pore By Robin Chan SINGAPORE has been propelled towards the top of a survey of the world's most expensive cities as a result of dramatic shifts in currency values. The Republic leapt five places to 10th costliest city in the world in just six months, as European cities from Dublin to Brussels have become relatively cheaper bases following the euro's plunge in value, according to the Economist Intelligence Unit (EIU) survey of 140 cities. London fell from 8th to an incredible 27th on the list - in part a result of the near-30 per cent per cent devaluation of the British pound against the dollar over a half year period. Report editor Jon Copestak said: 'Two factors drive the relative cost of living - local prices and exchange rates. 'Normally our ranking of cities by cost of living is relatively stable, but in the current global climate, changes in exchange rates have significantly altered our assessment of the most and least expensive cities.' The survey, which updates EIU's findings last September with the exchange rates that applied last month, now ranks Tokyo and Osaka as the most expensive cities in the world. The euro and pound weakened dramatically during the period as markets witnessed a flight to perceived safe haven currencies, such as the yen and the US dollar, as the financial crisis gained momentum. A stronger US dollar helped push Hong Kong - whose currency is pegged to the dollar - 16 places higher up to twelfth, just behind Singapore. The cost of living in Chinese cities, like Shanghai, where the yuan is pegged to the dollar, rose steeply relative to cities in other countries. The EIU's index, which measures the prices of 160 products and services such as food, clothing and utilities, but does not include commercial or residential rent, is designed to help companies calculate the pay packages they give to their expatriate employees. EIU Survey's 28 most expensive cities (and rank 6 months ago) 1. Tokyo (6) 2. Osaka (8) 3. Paris (2) 4. Copenhagen (3) 5. Oslo (1) 6. Zurich (7) 7. Frankfurt (4) 7. Helsinki (4) 9. Geneva (12) 10. Singapore (15) 11. Hong Kong (28) 12. Vienna (10) 13. Dublin (11) 14. Brussels (12) 14. Milan (12) 16. Munich (16) 17. Berlin (17) 18. Barcelona (19) 18. Noumea, New Caledonia (20) 20. Madrid (20) 21. Caracas (35) 21. Lyon (24) 23. New York (39) 23. Chicago (39) 23. Los Angeles (39) 23. Hamburg (26) 27. London (8) 27. Amsterdam (27) Read the full report in Wednesday's edition of The Straits Times. Share this post Link to post Share on other sites
hihihi 0 Report post Posted March 11, 2009 damned those politicians who made spore to be like london standard of living without that kind of pay scale. Share this post Link to post Share on other sites
rendell 0 Report post Posted March 11, 2009 damned those politicians who made spore to be like london standard of living without that kind of pay scale. LOL, I am not surprise, we are always aiming for No.1. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted March 11, 2009 Are we supposed to be proud that we are all living in the 10th most expensive city in the world?? Share this post Link to post Share on other sites
rendell 0 Report post Posted March 11, 2009 Are we supposed to be proud that we are all living in the 10th most expensive city in the world?? I think so. Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted March 11, 2009 I think so. This is sad. I don't see the point of this article at all. In any case, I don't see anything to be proud of by being ranked 15th most expensive without the exchange rates' fluctuations. Just realised the poor editor got his name quoted wrongly: Should have been Jon Copestake. http://www.eiuresources.com/mediadir/defau...Jon%20Copestake Share this post Link to post Share on other sites
yokine9a 1 Report post Posted March 12, 2009 Frankly speaking, I am not proud at all... my pay is not among the 10th or 15th highest in the world... what so great abt living in the 10th most expensive city? I am getting poorer & poorer now, with the cost of living in sgp gets higher & higher I can still remember the dream drew by PAP in the old days, to make sgp the same standard of living like swiss, with world class education/public transport/medical care etc etc... if our pay is not going that way, how to tahan? Share this post Link to post Share on other sites
Air 0 Report post Posted March 12, 2009 Frankly speaking, I am not proud at all... my pay is not among the 10th or 15th highest in the world... what so great abt living in the 10th most expensive city? I am getting poorer & poorer now, with the cost of living in sgp gets higher & higher I can still remember the dream drew by PAP in the old days, to make sgp the same standard of living like swiss, with world class education/public transport/medical care etc etc... if our pay is not going that way, how to tahan? I agree....singapore is getting more and more expensive to live in but our pay checks doesn't justify that kind of lifestyle so where have all the money gone?!?! To aim for world class education/public transport/medical care, I think we should all migrate to Swiss instead.....Eat snow there better than eat grass here..... Share this post Link to post Share on other sites
rendell 0 Report post Posted March 12, 2009 This is sad. I don't see the point of this article at all. In any case, I don't see anything to be proud of by being ranked 15th most expensive without the exchange rates' fluctuations. Just realised the poor editor got his name quoted wrongly: Should have been Jon Copestake. http://www.eiuresources.com/mediadir/defau...Jon%20Copestake I don't see the point either, but I think "they" want us to feel proud being compare to New York, Tokyo, London .. etc. Top notch city people want to visit. Frankly speaking, I am not proud at all... my pay is not among the 10th or 15th highest in the world... what so great abt living in the 10th most expensive city? I am getting poorer & poorer now, with the cost of living in sgp gets higher & higher I can still remember the dream drew by PAP in the old days, to make sgp the same standard of living like swiss, with world class education/public transport/medical care etc etc... if our pay is not going that way, how to tahan? Bua Tahan until next time our children send us to JB to retire. I agree....singapore is getting more and more expensive to live in but our pay checks doesn't justify that kind of lifestyle so where have all the money gone?!?! To aim for world class education/public transport/medical care, I think we should all migrate to Swiss instead.....Eat snow there better than eat grass here..... Eat snow there better than eat grass here Share this post Link to post Share on other sites
Air 0 Report post Posted March 13, 2009 Bua Tahan until next time our children send us to JB to retire. wah lau....that will be very sad.... Share this post Link to post Share on other sites
rendell 0 Report post Posted March 29, 2009 wah lau....that will be very sad.... Don't worry lah, they say the air there better. Share this post Link to post Share on other sites
