In our previous post about Singapore versus Hong Kong, we provided comparisons through a tourism lens.
And while both destinations share similarities like Chinese New Year celebrations, we’ll be focusing on more practical aspects for this post.
Which is richer: Singapore or Hong Kong?
In 2021, Hong Kong companies raised $12.2 billion by way of initial public offerings. Singapore businesses only managed to raise $2 billion in the same year.
So while there are many reasons Singaporeans are seen as rich, its financial centre metrics can’t compare to that of Hong Kong’s. Even the latter’s stock market reflects this with a HK$128.6 billion ($16.5 billion) turnover by January 2022.
Still, there are sure-fire and stable ways that Singapore makes money and attracts international investors at the same time. It’s still largely known as a tax haven and a great place for startups and other investments, too.
What are their policies on sanitation and hygiene?
Singapore’s infamous moniker as a “Fine City” can clue you in on the efficiency of its waste management and general public cleanliness campaigns. Chewing gum, littering, and vandalism all come with stiff penalties and punishments.
On the other hand, Hong Kong also has a Keeping Clean Hong Kong Campaign aiming to educate people on cleanliness.
There are fixed penalties for littering, spitting, unauthorised displaying of posters and bills, and allowing dogs to use public places as their toilet.
But seeing as Singaporeans place a higher value on cleaning up their private and public premises, it’s seen as the cleaner one between the two destinations. Even its water recycling system is hygienic and efficient.
What are their housing situations like?
Singapore’s housing system allows Singaporeans to purchase HDB flats based on a set income ceiling. Of course, there are eligibility requirements, but most of them are quite easy to meet.
This kind of housing option has significantly lessened the number of homeless people in Singapore. In stark contrast, the homeless in Hong Kong continue to rise in number, especially those who sleep on city streets and footbridges.
Both Singapore and Hong Kong are considered some of the most expensive housing markets in the world. But Hong Kong, in particular, has the most expensive apartment in Asia per square foot that cost the buyer US$59 million!
How efficient is their educational system?
Hong Kong and Singapore both have the best international schools for children of expats and immigrants. But Singapore’s education statistics describe a system that consistently produces high academic achievements among its students.
There’s a nine-year compulsory education in Hong Kong that follows the British system. On the other hand, Singaporean students are required to attend six years of primary school between the ages of 7 and 12.
And though the Singapore education system initially patterned its curricula and system after traditional British education, it’s diversified its focus to accommodate different specialisations and interests.
The result is that an impressive 97% of the Singapore population over 15 years of age are considered literate and have the basic skills to get income-generating jobs.