S'pore Tops Asia-Pac in Youth Economic Progress

Are we doing enough for our youths?

Singapore has emerged tops in enabling the economic progress of its youth in the Asia-Pacific region. Among 35 cities worldwide that included Hong Kong, Tel Aviv, Taipei and Bangkok, Singapore was fourth behind Toronto, New York and Chicago.

According to the Economist Intelligence Unit (EIU) study commissioned by a philanthropic foundation under banking giant Citi, Singapore topped the charts for some indicators, but was also near the bottom for a few. It scored well for government effectiveness, quality of employment opportunities for youths, access to technology, corruption, quality of healthcare and safety. But lagged behind in cost of living, migration (whether youths had moved for school, work or a better life in the past five years), and youth optimism about their economic future.

Sydney, Singapore, Toronto and Hong Kong were among the top 9 cities on the index, but their youths were less optimistic. Researchers said one potential reason could be current economic conditions.

Researcher also found a weak inverse relationship between cities’ performance in youth economic strategy index and the degree of optimism of their youths. While about three quarters of all the youths surveyed were somewhat or very optimistic about the future, the figure was 80 per cent or more in Lima, Mumbai, Manila and Jakarta, even though these cities ranked between 23rd and 33rd on the index.

The index showed that a wealthy city provides a good economic environment for its younger residents. But well-thought-out policies and programmes can improve economic possibilities for youths regardless of the city’s underlying economic situation.

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Source: “S’pore tops Asia-Pacific on youth's economic progress, shows Economist study” (TODAY, 17 Dec 2015)

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