Singapore: One of The World’s Wealthiest
Richest five nations among the world’s 50 largest economies, sorted by GDP per capita and adjusted for purchasing-power parity.
Source: International Monetary Fund, 2017
- Qatar ($124,930)
- Luxembourg ($109,190)
- Singapore ($90,530)
- Brunei ($76,740)
- Ireland ($72,630)
Living in Singapore: 90% appear to get by well.
Singapore’s home ownership rate is more than 90% of the population. This is one of the highest in the world and much higher than the home ownership rate in most developed countries.
Source: Department of Statistics, 2017
Poverty in Singapore
Given Singapore’s level of wealth and development, it is commonly believed that poverty does not exist here or at least that domestic poverty is not comparable with absolute or severe poverty that is present globally. Indeed, there is no official poverty line in Singapore and relevant data on the poor in Singapore is difficult to obtain.
Inequality in Singapore
Despite having the highest concentration of millionaires, Singapore also has one of the highest levels of inequality in the developed world. Over the past decade, Singapore’s Gini coefficient rose sharply from 0.454 in 2002 to 0.478 in 2012.
Sources: Department of Statistics, 2012
Between The Lines
Tugged away from the sky scrappers of our cosmopolitan city, are more than 57,000 one and two room flats. An estimate of the average monthly household income of these households is $885. That’s an average of $30 a day, often for a household of at least 4 members. There are also about 33,000 households with no working persons (excluding retiree households).
Sources: HDB’s Key Statistics FY 2011/2012; Key Household Income Trends, 2012, Department of Statistics Singapore
Power of Connection
Despite having supportive government policies towards the needy and vulnerable, and a strong social and community service network, the number of economically inactive residents and low-income households have not reduced but have grown.
One reason for this may be the low and negative self-image that many of them may possess. Many believe that they are incapable of breaking out of poverty. Particularly, those who are second or third generation poor may believe that they are destined to live out the rest of their lives in the same pattern of poverty.
And because they live hand-to-mouth, they learn behaviours that are not conducive to creating a better life – for instance, they cannot plan for the future with resources they don’t have, so they don’t set goals and create plans to reach them. This reinforces the negative narratives in their minds and perceptions of others about them. The shame that they feel may lead to social isolation, which is unhealthy for their emotional and psychological well-being.
One of the most significant obstacles to change is the lack of supportive people. We all tend to do much better when we have people cheering us on. Whether it is providing a listening ear, sound advice or just to walk the journey with us.
The Love-Aid Project seeks to be a supportive community to those who don’t have one.
It is our hearts desire that as we love and serve our community friends, we will see lives changed!