Coffee lovers need not go farther for a cheaper cup of cappuccino.
Singapore and Hong Kong are sharing similarities that make them amongst the most dominant markets in the world for investment. From ease of doing business in each market, tax rates, GDP per capita, government policies, quality of existing infrastructure, and the availability of debt finance, the two cities are close rivals. Some experts however believe that the widening gap between Singapore and Hong Kong’s costs of living is making the latter a more attractive destination for multinational companies looking to relocate employees. A survey from the Economic Intelligence Unit last year has ranked Singapore for the first time as the most expensive city in the world to live in. It climbed five spots up from its previous ranking while Hong Kong only moved one notch up to 13th.
Is living in Singapore really more expensive than Hong Kong?
Singapore Business Review has compiled a list of consumer prices for both cities from Numbeo, which bills itself as the world’s largest database of user contributed data about cities and countries worldwide.
The list, which covers cost of meals, market produce, transportation fare, clothing, sports and recreations, and property, shows Singapore is costlier than Hong Kong in many items. There are however a few items where the cost is cheaper in Singapore. Can you guess?
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