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SINGAPORE STATISTICS- 1 in 10 Singaporeans are unable to meet basic needs in the form of food, clothing, shelter and other essential expenditures.14
- Singapore is ranked the 3rd richest country in the world, with a GDP (PPP) per capita of nearly US$56,700.15
- Economist Intelligence Unit (EIU) ranked Singapore as the most expensive city to live for three years in a row16
- The top 10% wage earning households earn approximately 25 times more than the bottom 10%17
- The top 20% of earners saw their real wages rise by 27% between 1998 and 201018
- The bottom 20% of earners saw their real wages fall by 8% over the same period19
SINGAPORE CHALLENGEAccording to former GIC Chief Economist, Yeoh Lam Keong, 110,000 to 140,000 households in Singapore are unable to meet basic needs, where60% of these households have at least an individual earning an income. This highlights certain structural issues at play, which cannot merely be resolved through the hard work of an individual.
On a macro level, there is a need to re-examine the role of the government and individual responsibility and adjust wages so that everyone can earn an income that meets their living needs. On a micro level, addressing mindsets and judgements surrounding people living in poverty is crucial to tackling poverty and building an inclusive society. No one chooses to live in poverty.
Read more: The Four Myths of Inequality in Singapore
Read more: Why Low-Income Parents May Make ‘Poor Choices’
SINGAPORE OPPORTUNITYThe Sustainable Development Goals (SDGs) aim to encourage sustained economic growth by achieving higher levels of productivity and through technological innovation. Promoting policies that encourage entrepreneurship and job creation are key to this, as are effective measures to eradicate forced labour, slavery and human trafficking. With these targets in mind, the goal is to achieve full and productive employment, and decent work, for all women and men by 2030.
To Create the World We Want where no one is left behind, we need to ensure that overseas aid reaches the poorest people and the poorest countries. We need to ensure that governments adopt policies that promote equal opportunities for all.
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GLOBAL STATISTICS- 836 million people live in extreme poverty5
- About one in five persons in developing regions lives on US$1.90 (S$2.60) a day6
- The majority of these people belong to two regions: Southern Asia and sub-Saharan Africa7
- Every day, 42,000 people had to abandon their homes to seek protection due to conflict (2014)8
- Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity.
- The richest 10% earns up to 40% of total global income. The poorest 10% earn only between 2-7% of total global income.10
- In developing countries, inequality has increased by 11% if the growth of population is accounted for.11
GLOBAL CHALLENGEInequality is one of the biggest barriers to ending poverty; it fuels crime, corruption and violent conflict.
“Economic inequality is directly tied to childhood mortality rate: the poorer a child is, the more likely she is to die from a preventable health condition. According to the 2015 UN Millennium Development Goals Report, in developing regions, the under-five mortality rate is two times higher for children from the poorest families than it is for those born into the richest families.”12
The ability to find secure and fairly paid work is a big priority for most people, no matter where they live in the world. Employment enables families to escape poverty and helps governments develop and extend public services like health and education through taxes generated. However, millions of people are unemployed, or forced to undertake jobs with low wages or bad working conditions. The International Labour Organization reports that more than 204 million people were unemployed in 201513.
GLOBAL OPPORTUNITYThe Sustainable Development Goals (SDGs) aim to encourage sustained economic growth by achieving higher levels of productivity and through technological innovation. Promoting policies that encourage entrepreneurship and job creation are key to this, as are effective measures to eradicate forced labour, slavery and human trafficking. With these targets in mind, the goal is to achieve full and productive employment, and decent work, for all women and men by 2030.
To Create the World We Want where no one is left behind, we need to ensure that overseas aid reaches the poorest people and the poorest countries. We need to ensure that governments adopt policies that promote equal opportunities for all.
