Why Singapore isn’t the most expensive city in the world.
PP
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Thanks for writing this. Some of the comments have already highlighted a couple of errors, but I’m glad you mentioned the fact that Singapore has incredibly low taxes.

CPF, like it or hate it, is NOT a tax. Yes, you can’t touch it before retirement except for investments, healthcare, housing or your children’s education. Yes, you don’t know what it’s being invested in. But you do get a guaranteed interest rate, and most importantly your CPF contributions are in your name - yours and yours alone. Unlike, for example, taxes in the UK where the pension payouts are decreasing as the years go by and the amount you’ll receive at retirement age could be anything (or nothing at all?).

Another flaw in the EIU survey is also that all prices are converted into USD. Also, the prices of all items were converted from the local currency into USD. Which means that given the SGD’s relative strength against most other currencies - and considering the USD decline in the past year - even if real prices remained the same, it’s possible that the survey could have recorded a false increase in prices due to currency conversions.

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