People's Daily Online, 9 Dec 2009
Singapore managers have the third-highest spending power in Asia, local media reported on Wednesday.
Last year, Singapore managers ranked 4th in Asia and 22nd in the world in terms of spending power. But Hay Group said the comparison to this year's figures may not be suitable as it has changed the way it calculates the cost of living.
One reason Singapore managers have lower spending power than their counterparts in economies like China's Hong Kong is that taxes here are higher.
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