The 2011 annual ECA International Cost of Living Index findings were released yesterday with Singapore now ranking the 6th most expensive location in Asia, ahead of it's rival business Hub, Hong Kong. This is a result of the stronger Singapore Dollar which has impacted on the cost of living expenses. This will have a negative impact on the benefits that Singapore had over Hong Kong regarding employment of expatriates.
On the positive side many expatriates who's contracts are expiring are actually tying to localise their employment and stay in Singapore as a result of the financial turmoil in Europe, America and other Western Countries. Singapore is now ranked the 31st most expensive country in the world to live in.
An on line survey conducted by HSBC who canvassed 3500 expatriates in 31 countries still ranks Singapore as the top overall destination, at least for people without children. Factors that were sighted include, increase in disposable income, efficient transport network and quality of education. Their are 4 Asian countries in the Top 10 of the survey.
Read the full details here: http://www.expatexplorer.hsbc.com/
We have been to Boat Quay before for lunch and to be honest it was not a nice experience. Beautiful stretch to walk until you get to the restaurant "Ally". The staff standing outside hassled us to the point of harassment and halfway down the ally we decided to turn around , look straight ahead and made our way back to the first restaurant and quickly entered to get away from it all. Had lunch and left walking away from the restaurants. Sad, because surely it must have an impact on the restaurants income as they basically scare away any potential patrons. We agreed not to go there again and rather take visitors to Clarke Quay.
Read in the news this morning headlined " Bid to Flush out touting, Overcharging in Boat Quay" that a group of restaurant owners has now introduced guidelines in an effort to get rid of the negative image of touting and overcharging at Boat Quay. This does sound like a step in the right direction which I will go and test out for myself to see if things have changed.
The committee has launched a campaign called "A Better Singapore River" which will address things like clearly indicating prices on menus and not soliciting customers for business. Currently about 70% of the restaurants are on board so lets hope it makes the difference. Well done to those who spearheaded this much needed initiative.
I will report back after my next visit on the "change" at Boat Quay and hopefully positive.
If you do have complaints you can lodge them with Singapore's watchdog, Consumers Association Of Singapore and the Singapore Tourism Board.
Tourism Board link
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