That was in July, when I felt that prices of eating out in Japan is slowly coming down, comparable to Singapore, except that they had better service. (http://criticalpieceofshit.blogspot.com/2009/07/cognitive-dissonance-and-migraine-that.html)
Well, a few months later, I was proven right, when the UBS survey was released, and the Business Times did a report on it.
Here's the copy. Note that comments in brackets and highlighted are my comments.
UBS survey reveals Singaporeans are just the 5th highest earners in the region
(SINGAPORE) Singapore may be the second most expensive city in Asia after Tokyo, but employees here are only the fifth highest wage earners in the region, a study has found.
To indicate wage levels, the UBS survey looked at how long a person has to work to buy an 8GB iPod nano player, (cost: USD$149)
In Singapore, it takes 27.5 hours - but in Tokyo it takes 12 hours, and in Hong Kong it takes 19 hours. (This means that average Singaporean earns about USD$5, Tokyo people earns USD$12 and Hong Kong people earn about USD$8 per hour, pathetic!)
On a global scale, Singapore ranked 40th in terms of gross wages, down two notches from 38th in 2006, the last time the study was conducted.
In 18th place worldwide, Tokyo workers are Asia's highest earners, followed by Hong Kong (37th, up from 40th in 2006), Seoul (38th, down from 32nd), Taipei (39th, from 36th), Singapore, Shanghai (59th, same as in 2006), Beijing (64th, from 65th) and Mumbai (73rd, from 67th).
Compiled in a report titled Prices and Earnings, the findings emerged from surveys conducted in March and April by local UBS employees, members of student organisation AIESEC, chambers of commerce, consumer organisations and selected individuals.
The wage and salary data covers 14 different occupations including building labourer, engineer, cook, bank credit officer and primary school teacher. They represent a cross-section of the workforce in the industrial and services sectors.
Employees in Copenhagen, Zurich, Geneva and New York have the highest gross wages, in that order. In contrast, the average employee in Delhi, Manila, Jakarta and Mumbai earns less than one-fifteenth of Swiss hourly wages after tax.
In terms of cost of living, excluding rent, Oslo remains the most expensive city in the world, followed by Zurich and Copenhagen. The prices were calculated based on a reference basket of 122 different products and services. London dropped dramatically to 21st position, from the second most expensive city in 2006. Singapore was ranked the 24th most expensive globally, up from 32nd position in 2006.
People in Asia and the Middle East generally spend more hours at work than those in Europe. On average, Singapore employees work 2,088 hours a year - higher than the global average of 1,902. (That's about nearly 12 days more in a year!!! How long is our entitled leave? 14 days...wtf???)
'Overall, the most hours are worked in Cairo (2,373 per year), followed by Seoul (2,312),' the UBS report said. 'Workers in Doha, Dubai and Manama also rack up long hours, averaging 2,210 per year - 308 more than the international average.
'There are significant differences within regions, too. Employees work considerably more in Hong Kong (2,295 hours) and Seoul (2,312 hours) than in Tokyo (1,997 hours) and Shanghai (1,946 hours).'
The survey was conducted in 73 cities.
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