Singapore, one of Asia's largest financial centers, has seen a big inflow of expatriates in recent years. Now, as a sharp rise in the cost of living threatens high living standards, the city-state may well be at risk of becoming a victim of its own success.
And while low taxes, good air quality and less crime lure workers to Singapore from across the world, the recent push up in housing, schooling and transport costs could discourage expats from moving or staying in the city long-term, analysts said.
Darika Suter, who has lived in Singapore for 24 years, is re-locating her antiques business to the Thai island Phuket in March. She says that while higher costs are not the only reason for the move they certainly make it no "fun" to do business in Singapore any longer.
"I can use the funds I have built up to live comfortably in Thailand, so why stay in Singapore and sweat it out?," she says. Full story
