![]() ![]() The maximum expenses incurred by foreigners and Singapore residents are related to property rental. Prices for essential goods and public transport, by local standards, are quite affordable. The high cost of living is due to a large number of highly paid employees and limited land for expanding the metropolis. Thousands of foreign companies strive to conquer the local market, and pragmatic professionals from all continents build successful careers here. The region's economy is recognized as the most competitive in the world, and its GDP per capita surpasses that of the United States. The country maintains a business-friendly climate and high investment attractiveness. Singapore is one of the obvious examples of revolutionary state development in modern history. The ranking presented below takes into account both standard consumer expenses and rental costs. According to recent studies, the cost of living worldwide has increased by more than 8% on an annual basis. The calculation is based on the price of a consumer basket, or in other words, the actual cost of a specific set of goods and services. Economic theory offers several options for calculating the cost of living index in a particular city. A significant drawback of such a lifestyle is the high cost that one has to pay. This term encompasses the efficiency of human life and the degree of satisfaction of their material, spiritual, and social needs. The pursuit of a high quality of life is inherent in every resident of our planet.
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