Income inequality is a major concern for rich and poor countries, alike. Severe income inequality can be divisive and even lead to social unrest. With that said, is income inequality a problem in Singapore? If so, how severe is it?
William Hofmann – July 23, 2018
With GDP per capita of S$79,697, Singapore is one of the richest nations in the world. However, like many other countries, it faces concerns regarding rising income inequality among its residents. In this study, we analysed publicly available data to determine the severity of income inequality in Singapore.
Study highlights: Income Gap: The income gap seems like it has increased in absolute dollar terms, but has actually improved as low-income workers have experienced the fastest wage growth since 2007. Middle of the Pack: Singapore has lower income inequality than U.S. and China, but higher income inequality than South Korea and