Users: 4.5 million (May 2020) There were 4 529 000 Facebook users in Singapore, which accounted for 75.5% of its entire population. Cafe food or else, good-looking food have been an enduring trend since ages ago. This includes day-to-day expenses on items such as food, dining out, bus/MRT fares and clothing; regular expenditure like utilities, phone bills and school fees; as well as ad-hoc spending on big 3.2. PDF (1MB) Reference Statistical Best Practices 2020. No passport needed. (Children under 13 were not asked about social media accounts in this survey). One thing is clear though: Singapore youth really like video games. In 2012/13, resident households in Singapore spent an average $4,7241 Heads Aged Below 30 Yearsper month on consumer goods and services. This is coupled with an independent self-starter spirit that is driving a wave of innovation to achieve purpose-driven work and life. In 2017, 19.7% of Singapore’s total population consisted of persons aged at least 60 years (Department of Statistics, 2017c).This proportion will have reached 40% by year 2050 (United Nations, 2017a, 2017b).This accelerated pace of population aging raises significant interest in aging research and policy not only for Singapore, but also for similar aging populations in the … In the context of Singapore’s youth, some recent statistics … No-logo doesn’t quite cut it nowadays, and it doesn’t help that trend-setters online are clad in Supreme and using $80 Urban Decay Eyeshadow Palettes. Singapore has one of the highest digital consumption rates in the world. This particular expenditure category is considered "discretionary spending," meaning that it's not a necessity. ... attitudes and spending patterns of consumers in Singapore. Club covers are expensive but drinks are worse. You can start with money tracking apps or simple finance-tracking excel sheets that help monitor your personal expenses with convenience, tracking your spending habits and transactions. The MSF Youth Homes (i.e. Spending is a conscious decision, like whether to leave the house earlier for school ($1) or to take a cab ($15). But, by the looks of how many youths hold $1000 iPhones and don $300 Limited Edition Adidas sneakers, it is hard to deny that youths all around are spending more than they technically have. The trends these days make brands matter a lot. 6. Ultimate guides to kickstart your finances. Women: 2%; Men: 8%; The majority of them were women – 56.2%. Singapore has an 82% Internet penetration rate. Singaporeans spend a median monthly amount of $155-$255 on tuition (source). Most of my expenditure is on sustenance. Singapore is one of the countries covered and it provides historical statistics, forecasts, analysis of consumer lifestyles, brand and company information, and full-text market analysis. $7.. $10.. $20, depending on distance, spent on each ride perhaps every day. People are kind of obsessed. In Singapore, 80% of millennials in Singapore have shopped online in the past 12 months, out of which 69% has done cross-border online shopping. It is not only food prices that have increased but also our taste in food, shaped by trends. One of the most startling statistics to come out of the MarketingVOX/Rand research centers on teens' total annual spending, which sits just shy of $259 billion annually. This is much hi… This essentially means that out of $300, $120 is spent on grabbing around every month! Can we really blame young people for their spending habits when the trends these days all point towards items with high price points? Tip: Kids and Money. We asked 10 Singaporean Youths between 18 to 23-years-old to share with us why they think millennials are spending much more than they should. Why do kids these days spend so much? But £1 billion is a reasonable figure to use, based on the data we've seen. Consumer Spending in Singapore averaged 20499.46 SGD Million from 1975 until 2020, reaching an all time high of 45597.80 SGD Million in the third quarter of 2019 and a record low of 4470.60 SGD Million in the first quarter … You’re no longer locked into an institution, a location, a currency. Consumers and merchants are open to a world of opportunities in the new global economy, and no other group is taking greater advantage of this than the millennial generation, said Rahul Shinghal, General Manager for PayPal Southeast Asia at a recent press conference. No queues. Public spending as a % of GDP (2008-2010*) allocated to: education. In his Budget speech, Mr Heng stressed that the goods and services tax … When white shoes were trending, it wasn’t about just white shoes, it’s at its cheapest $70 Superga sneakers or the latest $280 Adidas NMDs. We asked the 10 students to show us their expenditure breakdown with the Seedly App and it states that Taxi and Car services actually amount to an average 20% of their monthly spendings. More than three in four people in the country use the internet regularly this year. Nearly half (49%) of Millennials shoppers said that fast delivery would make them more likely to make a purchase from another country. If that surprises you, consider the fact that Singaporeans also spend more than twice the global average on education. The emergence of Uber and Grab these few years have overtaken Singaporean transport habits completely. You can start with money tracking apps or simple finance-tracking excel sheets that help monitor your personal expenses with convenience, tracking your spending habits and transactions. According to the study when shopping online, it is evident that Singaporean Millennials also look beyond tangible goods and instead, focus on authentic experiences that reflect their passions and interests. NYS 2019 is the sixth iteration of the time-series study. We asked this question to the 10 students we interviewed and what we got were amounts as low as $50. The same applies to the Ralph Lauren badge sewn onto a baseball cap, Abercombie and Fitch stamped on that white shirt, or Adidas Originals branding your pair of sweatpants. When parents sponsor big-ticket items, it leads to a mentality that children have enough spending power for something they technically cannot afford by themselves. View More. Yes, I meant food. #MarketingExcellenceAwards spills: Behind the scenes of Shi Hui Yuan's brand transformation, The Mango Agency SG rebrands to Upcycle Communications under new management, Manulife IM promotes CMO Grace Ho to new digital business role, Foodpanda Hong Kong rolls out catering service for the public, MY comms ministry forms investigative team after 'indecent remarks' surface on MCMC's Twitter, WTA serves up an ace for first rebrand in a decade, #AOTYAwards spills: Louken Group shares what clients want and trends for 2021. Singapore currently has a total population of 5.83 million. Some of the areas covered are: Population, Education, Employment, Marriage and Divorce, Health, Sports and Participation, Aspirations as well as Civic Engagement. It has no curfew. There were 2 005 000 Instagram users in Singapore in September 2019, which accounted for 8% of its entire population. Recreation spending in the U.S. increased by 24% in the five years leading up to 2017, while U.K. expenditure on leisure activities was up 17% in the five years before 2018.. Clothing trends these days are no longer bermudas you can get from Bugis Street or styles you can simply replicate with cheaper alternatives. Instagram users in Singapore. (YOG file photo) Dr Vivian Balakrishnan has admitted that his team had miscalculated the Youth Olympic Games (YOG) budget.. Our smartphone penetration rate (73% in 2017, per eMarketer estimates) is also among the highest in the world. Statistics Singapore Newsletter Issue 2, 2020. GST offset package. Most teens are spending at least some of their time online using social media. For example, you can own a sweater but it somehow becomes a fashion statement when there’s that small “Champion” logo sitting at the end of your sleeve. If that figure is accurate, it means that teens are spending nearly triple what they earn. 1.4. This amount varies from family to family, but 54% of Singaporean parents spend more than $500 per child. These days, what contributes to the highly-priced trend of foodstuff include food at carnivals and hipster events like Flashbang, the Prudential Carnival, Singapore Night Festival and so on. Much is indeed, subjective. These small things do make a difference. Stay updated with the latest finance tips! Youth unemployment rate in Singapore in 2020. Party once a week and that’s pretty much the end of your savings. There is also a need for speed when it comes to this group of online shoppers, who expects faster and frictionless shopping experiences. In developing markets, growth rates are significantly higher as consumer incomes rise and … Disposable income growth is driving healthy expansion in leisure spend throughout the developed world. The Youth Statistics in Brief paints the big picture of the state of youth (aged 15-34) in Singapore. But what I know youths can do is to be more aware of where their money goes, and plan their finances a bit better. The Singapore Budget 2014 for the Ministry of Culture, Community and Youth allocates SGD 10.8 million (USD 8.6 million) to the National Youth Programme. The basic cost of looking cool should amount to about: Ralph Lauren Baseball cap $75 + Basic Champion T-shirt $75 + $160 Adidas Originals Stan Smiths = $310 per outfit. The Ultimate Comparison: BlueSG vs Grab vs Uber vs Taxi, How Poor Are Singaporeans? Youth services in England have been worse affected than Wales, according to YMCA analysis of local authority spending. Dr Vivian Balakrishnan, Minister Mentor Lee Kuan Yew and Chairman of SYOGOC Ng Ser Miang at the YOG. Resources PDF (738KB) Reference eBook of Statistics. Digital and Social Media Statistics, Singapore 1. 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