This is how much you need to earn to be happy in Singapore

Living in one of the most expensive cities in the world, it's no wonder that happiness comes at a price. According to new research by S Money, you need to earn US$75,320 annually (approximately S$103,007 at the current exchange rate) to be happy in Singapore. 

After that, happiness levels off (and even dips). Considering that the median salary in Singapore in 2022 is approximately S$60,900 (US$44,500), it sounds like a heck of a lot of us are not as happy as we could be. Things look rosier in neighbouring countries, where the cost of happiness comes in at US$38,749 (Malaysia), US$36,569 (Indonesia), US$61,781 (China), and US$63,966 (South Korea), to name a few. 

And how did S Money arrive at these price tags for happiness? The results are based on figures from a famous Purdue University study that identified "satiation points", i.e., income levels at which a further increase in income has no effect on an individual's happiness. This 2018 study found the global average across 164 countries to be between $60,000 to $75,000. 

Of course, a dollar stretches differently depending on where in the world you live. S Money took this into account by converting the Purdue study's figures back into their local currencies and factoring in each country's purchasing power and local cost of living. 

We'd be the first to say that while money can't buy happiness, it certainly helps. It's good to consider though, that Singapore ranked as the happiest country in Asia in another study, faring well on metrics like healthcare, education, housing, recreation and transport options, and low corruption. And in our follow-up reader survey, we found that Singaporeans find joy in small things too, like our neighbourhood coffee shops, ice cream carts, and pretty parks. 

Countries with the highest price of happiness

1. Iran ($239,700)
2. Yemen ($172,140)
3. Australia ($121,191)
4. Zimbabwe ($118,342)
5. Norway ($117,724)
6. Switzerland ($115,745)
7. New Zealand ($114,597)
8. Israel ($112,506)
9. Iceland ($111,908)
10. United States ($105,000)

Countries with the lowest price of happiness

1. Sierra Leone ($8,658)
2. Suriname ($10,255)
3. Madagascar ($11,355)
4. Guyana ($11,707)
5. Sudan ($11,845)
6. Nicaragua ($11,941)
7. Colombia ($12,159)
8. The Gambia ($12,597)
9. Bolivia ($12,795)
10. Ghana ($12,949)

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