Sign up | Log in



Home  >>   Daily News  >>   Singapore News  >>   Economy  >>   Singapore sets $3,100 median income
NEWS UPDATES 9 July 2010

Singapore sets $3,100 median income

Related Stories

June 26, 2010
Singapore manufacturing is up

June 9, 2010
Singapore: 9% growth expected, says survey 

May 21, 2010
Singapore economy grows faster than forecast

May 14, 2010
Decline in car sales drags down Singapore retail sales

May 2, 2010
Singapore PM sees integrated resorts boosting economy

April 26, 2010
Singapore: Recovery helps reduce job losses

IN 10 YEARS' time, an economy with top-quality skills will boost the real median incomes of Singaporeans by 30 percent from $2,400 to $3,100, Singapore will have more internationally competitive local companies and will be one of the most liveable cities in the world.

'We think we can raise incomes, raise the wage of the average worker, by one-third in the next 10 years. That means moving from a median wage of about $2,400 today to about $3,100 in 10 years time,' said Finance Minister Tharman Shanmugaratnam at a dialogue at Suntec City on Friday. Accounting for inflation, the figure is $3,800, he added. Mr Tharman was speaking at the recommendations dialogue for the Economic Strategies Committee, organised by the Singapore Business Federation and attended by 600 businessmen.

He said that the next five to 10 years provide a 'whole wave of opportunities' for Singapore to play to its strengths in urban and water management. Singaporean companies can also capitalise on a wave of Asian demand in middle-class services like health, travel, education, entertainment and financial services.

“It's useful to ask ourselves where we want to be in 10 years' time, what is the sort of Singapore we want to see? And I'll just want to highlight three facets of that Singapore that the ESC thought of as being desirable and essential,” he told The Straits Times

First, he said, the ESC wanted to see an economy that has top quality skills to raise incomes for the average Singaporeans by one-third in the next 10 years. To boost wages from $2,400 to $3,100, Singapore needs to become a leading hub in Asia for global businesses and high-value, complex manufacturing, and possess top-notch service standards, he said.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand