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Monday, June 14, 2010
> @ 9:12 PM
Singapore ranked Asia's 9th most expensive place to live in 
A survey has ranked Singapore as the ninth most expensive location in Asia to live in. According to human resources consultant ECA international, Singapore's currency has been strong relative to other major currencies in the region. Furthermore, it said prices of goods and services commonly purchased by expatriates have risen at much faster rates here than in other developed locations. Globally, Singapore has gained six places in ECA's global rankings and is now in 67th position, overtaking locations such as Guangzhou and Shenzhen. ECA International said Singapore's rise up the list continues a long term trend. In addition, the cost of living differential between Singapore and Hong Kong has become smaller and smaller, said ECA International's regional director (Asia), Lee Quane. This, he said, is a double-edged sword: on the one hand companies sending staff out of Singapore need to pay lower cost of living allowances for an employee to maintain their standard of living on assignment. On the other hand, for companies bringing staff into Singapore, allowances will carry on increasing as Singapore continues to rise on the ranking table. Due to the strengthening of Asian currencies over the past year, on the back of strong economic performance, has contributed to the higher costs. In addition, it had not only lead to the rise of Singapore costs as it had also gave rise to Singaporean's education level. With a strong competitive country to live in, Singaporeans are all pressurize to stay competitive in order to maintain their current position in workplace or even in schools. Yanling 
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