How "richer" is Singapore compared to Malaysia?
On average, Singaporeans are 7x wealthier than Malaysians.
This is based on GDP per capita, which measures the amount of money earned per person in a nation.
More stats. 🧵
On average, Singaporeans are 7x wealthier than Malaysians.
This is based on GDP per capita, which measures the amount of money earned per person in a nation.
More stats. 🧵
1. While Singapore does not have a minimum wage, the lower-income earners (ie. people working in the food services industry) earn at least SG$1,750 per month.
Malaysia’s minimum wage, on the other hand, currently stands at RM1,500 per month.
Malaysia’s minimum wage, on the other hand, currently stands at RM1,500 per month.
2. According to DOSM, Malaysia’s median salary stood at RM2,250 per month in 2021.
In other words, half of the population earned less than RM2,250, while the other half earned more than RM2,250.
In other words, half of the population earned less than RM2,250, while the other half earned more than RM2,250.
3. Singapore’s median salary is SG$5,070 per month.
From 2021 to 2022, the average monthly income rose from $4,680 to $5,070, representing an 8.3% increase.
From 2021 to 2022, the average monthly income rose from $4,680 to $5,070, representing an 8.3% increase.
4. Singapore’s cost of living is absurdly high in certain aspects.
In fact, the country holds a 2018 Guinness World Record for being the most expensive city in the world to own a car.
If you’re looking to rent a SHARED condo, expect to pay roughly $700-$2,000 per month.
In fact, the country holds a 2018 Guinness World Record for being the most expensive city in the world to own a car.
If you’re looking to rent a SHARED condo, expect to pay roughly $700-$2,000 per month.
5. What about food and other necessities?
Singapore is known for its efficient and affordable public transport, usually ranging from $0.50 to $2.50 depending on the distance you travel.
With roughly $6, you can have a decent meal at a hawker stall, or ~$10 at McDonalds.
Singapore is known for its efficient and affordable public transport, usually ranging from $0.50 to $2.50 depending on the distance you travel.
With roughly $6, you can have a decent meal at a hawker stall, or ~$10 at McDonalds.
6. As for Malaysia,
Getting a decent meal below RM10 in Kuala Lumpur is notoriously difficult these days.
Most noodle/rice stores have already raised their prices to the high single digits.
Paired with a drink, your lunch could sometimes set you back by RM15.
Getting a decent meal below RM10 in Kuala Lumpur is notoriously difficult these days.
Most noodle/rice stores have already raised their prices to the high single digits.
Paired with a drink, your lunch could sometimes set you back by RM15.
7. But it’s not all doom and gloom for Malaysia.
Compared to our other neighbours such as the Philippines, Vietnam, and Indonesia, we are 3 times wealthier on average.
Compared to our other neighbours such as the Philippines, Vietnam, and Indonesia, we are 3 times wealthier on average.
8. Malaysia is also known for its generous government subsidies, which have kept oil prices extremely low compared to other nations.
A litre of RON95 costs RM2.05 locally, while the same litre costs $2.76 in Singapore.
A litre of RON95 costs RM2.05 locally, while the same litre costs $2.76 in Singapore.
9. Despite the relatively high cost of food in Malaysia, the overall cost of living is significantly cheaper compared to Singapore.
But this is, of course, accompanied by our comparatively lower wages as well.
But this is, of course, accompanied by our comparatively lower wages as well.
To wrap things up,
It’s no doubt that Singapore is much wealthier compared to Malaysia, but that comes at a cost, as housing and car expenses are much higher.
While Malaysia has its own set of problems, our country also has its own beauty.
Thanks to...
It’s no doubt that Singapore is much wealthier compared to Malaysia, but that comes at a cost, as housing and car expenses are much higher.
While Malaysia has its own set of problems, our country also has its own beauty.
Thanks to...
...government subsidies, we’ve kept inflation moderately controlled compared to other countries.
Hey, our food here is *generally* better too. (Not kidding)
Hey, our food here is *generally* better too. (Not kidding)
We hope this thread was helpful to you!
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Share with us your thoughts in the comments below. 👇
If learned something, give us a follow @TheFuturizts for more posts like these!
Share with us your thoughts in the comments below. 👇
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