The Global Gender Gap index score for wage equality for similar work in Singapore in 2023 was 0.78, with a score of 1 being absolute parity and a score of 0 being absolute imparity. Singapore has the third-smallest gender gap in South-east Asia, behind the Philippines and Laos. Nonetheless, gender equality in Singapore is still higher than other Asian countries such as Thailand and Japan.

In 2020, 16.01 percent of resident employed households had a monthly income of 20 thousand Singapore dollars and over. In comparison, only 2.27 percent of households had a monthly income of less than one thousand Singapore dollars.

In 2023, the Gini coefficient after taxes amounted to 0.35 in Singapore. During the time surveyed, the Gini coefficient was highest in 2014, with an index score of 0.39. Since then, it has decreased in 2016, 2016 and 2020.

• Assessable Income refers to the total income of an individual less allowable deductions such as business expenses, employment expenses and donations.
• Chargeable Income of an individual is his/her assessable income less the personal reliefs allowed.
• Net Tax Assessed is the net tax payable or repayable by an individual after taking into account allowable tax credits, tax remission, tax rebates and tax deducted at source.
• Non-Tax Resident refers to an individual who has worked in Singapore for less than 183 days in the preceding year of the Year of Assessment.
• There will be differences between the Net Tax Assessed (NTA) and the Tax Collection published on data.gov.sg. NTA is the net tax assessed to be payable or repayable by an entity after taking into account allowable tax credits, tax remission, tax rebates and tax deducted at source, for a specific tax period. This might be different from the amount of tax collected as the taxes could be collected or refunded across different Financial Years (FY) due to taxpayers paying their taxes via GIRO instalments or having their past years’ assessments reviewed.

When asked about possible reasons for why the gender pay gap exists, 46 percent of respondents in Singapore stated that fewer leadership positions offered to a particular gender most likely contributed to the gender pay gap. The same survey also found that the majority of the respondents could not correctly identify what a gender pay gap is, which is when one gender is being paid lesser on average than another.

Comparing the 130 selected regions regarding the gini index , South Africa is leading the ranking (0.63 points) and is followed by Namibia with 0.58 points. At the other end of the spectrum is Slovakia with 0.23 points, indicating a difference of 0.4 points to South Africa. The Gini coefficient here measures the degree of income inequality on a scale from 0 (=total equality of incomes) to one (=total inequality).The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).

Income inequality is an essential cause of violence, stagnant development, and political instability. This study will examine the positive and negative shocks in tourism development, and the distribution of the interaction between tourism development, economic growth, human capital, globalization, and income inequality will be discussed in Singapore, a developed and top-visited country. By adopting autoregressive distributed lag and non-linear autoregressive distributed lag approaches for panel data from 1978 to 2022, the results indicate an asymmetric cointegration among variables, and positive and negative changes in tourism development lead to decreased income inequality. More specifically, the asymmetric effect of tourism is found both in the short- and long-term, and positive shock has a greater impact than negative shock. At the same time, the findings also reveal that economic growth and globalization enhance, while human capital negatively affects income inequality in Singapore. These findings strengthen the belief of Singapore policy-makers and recommend several significant lessons for developing countries to promote tourism, sustainable development, and reduce income inequality.

Singapore SG: GDP: 2015 Price: USD: Adjusted Net National Income data was reported at 239.432 USD bn in 2015. Singapore SG: GDP: 2015 Price: USD: Adjusted Net National Income data is updated yearly, averaging 239.432 USD bn from Dec 2015 (Median) to 2015, with 1 observations. The data reached an all-time high of 239.432 USD bn in 2015 and a record low of 239.432 USD bn in 2015. Singapore SG: GDP: 2015 Price: USD: Adjusted Net National Income data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank.WDI: Gross Domestic Product: Real. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.;World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).;Gap-filled total;

Source: SINGAPORE DEPARTMENT OF STATISTICS

Data Last Updated: 09/09/2019

Update Frequency: 5 years

Survey period: Household Expenditure Survey 2007/08

Adapted from: https://tablebuilder.singstat.gov.sg/table/CT/16637

[Keywords] Market include AXA, HSBC Insurance Pte. Ltd, NTUC Income Insurance Co-operative Ltd, Prudential Assurance Co. Singapore (Pte) Ltd., Aviva LTD

In 2019, 53 percent of respondents shared that the treatment of the less well off is quite acceptable in Singapore. 38 percent found that the treatment of the poor in the country is quite and very unacceptable. Other social behaviors brought up in the survey include driving habits, respect for one's environment and interaction of Singaporeans with domestic workers.

According to a survey conducted by Ipsos on predictions for global issues in 2020, 51 percent of Singaporeans believed it was likely that women would be paid the same amount as men for the same work in that year. This should not be surprising, as the gender pay gap in Singapore has changed little in the past few years. In 2018, men on average still earned significantly higher salaries than women in Singapore.

Source: SINGAPORE DEPARTMENT OF STATISTICS

Data Last Updated: 31/07/2019

Update Frequency: 5 years

Survey period: Household Expenditure Survey 2017/18

Adapted from: https://tablebuilder.singstat.gov.sg/table/CT/16466

Source: SINGAPORE DEPARTMENT OF STATISTICS

Data Last Updated: 29/07/2019

Update Frequency: 5 years

Survey period: Household Expenditure Survey 2012/13

Adapted from: https://tablebuilder.singstat.gov.sg/table/CT/16425

Source: SINGAPORE DEPARTMENT OF STATISTICS

Data Last Updated: 31/07/2019

Update Frequency: 5 years

Survey period: Household Expenditure Survey 2017/18

Adapted from: https://tablebuilder.singstat.gov.sg/table/CT/16457

This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Singapore from 2013 to 2023. In 2023, agriculture contributed around 0.03 percent to the GDP of Singapore, 22.4 percent came from the industry and 72.45 percent from the services sector.

The millionaire population in Singapore stood at around 526.4 thousand in 2021 and is projected to increase to about 592 thousand in 2026. This estimated growth in the millionaire population reflects the trend of increasing household wealth in Singapore, which grew by more than 146 percent since 2000.

Millionaire’s playground
In 2022, the Economist Intelligence Unit ranked Singapore as the world’s most expensive city alongside Hong Kong and Paris. The high cost of living in Singapore is in large part due to the extremely high cost of owning a car, as well as high property and food prices. With the tenth highest average wealth per adult in the world, and relatively low financial inequality, it seems that the residents of Singapore are able to afford life in the city with the third most expensive beer prices in the world.

Declining wealth in old age
The reality, however, is far less glamorous. While the median wealth per adult increased in 2019 from 2018, it was still the second-lowest value in the past five years. Many Singaporeans are feeling the pinch, especially the most vulnerable members of society, such as the elderly, who make up the majority of the workforce in jobs such as cleaning. Worryingly, many Singaporeans are also not financially prepared for retirement. This could lead to increasing inequality in the future, with many people unable to afford the lifestyle that they are accustomed to.

In 2023, the mean monthly earnings for a female employee was around 5,700 Singapore dollars, while that for a male employee was about 7,200 Singapore dollars. Although the earnings for both males and females had increased, the gap between the mean monthly employees have not been decreased in the past ten years.

In 2020, other retail accounted for 33 percent of gross rental incomes in shopping malls, the highest value in the distribution. Food and beverage outlets accounted for 29 percent of gross rental income. Food and beverage outlets have become an important source of rental income for shopping malls as more consumers are turning to online channels for non-food and beverage purchases.

A survey conducted in July 2022 in Singapore found that around 23.43 percent of respondents considered poverty and economic inequality to be the greatest challenges they had to face. Among other leading challenges facing the country were employment and the COVID-19 situation.