Singaporeans spending in JB cited among factors driving the rising cost of living there
Those living in Johor Bahru (JB) are reportedly experiencing an increased cost of living.
This has led to financial anxiety among residents who are seeing worrying spikes in food prices. Lesser purchasing power is also a growing concern.
Singaporeans who spend in JB are cited among the reasons driving the costlier environment there, Malaysian news site The Star reported.
The strong Singapore Dollar (SGD) is also said to be part of the issue.
More turning to hotline to share anxiety over rising cost of living in JB
To air their grievances about the higher cost of living, more have been turning to non-governmental organisation (NGO) Johor Bahru Befrienders. The NGO operates a hotline that offers free emotional support to those in need.
Its president, Mr Danny Loo, shared that many were worried about the spike in food prices in JB.
At present, JB food prices have surpassed that in Klang Valley.
In a separate article, The Star found that over the past three years, a standard cup of coffee sold in JB has seen a 70% increase in prices.
Source: The Star
The hotline’s callers also expressed concerns about their reduced purchasing power.
Singaporeans shopping & dining in JB believed to have driven food prices up
Moreover, Mr Loo shared that among the factors driving the increase in food prices, Singaporeans who spend in JB — such as to shop and dine — account for one of them.
In 2023, Johor had over 16 million foreign visitors, with the majority of them being Singaporeans.
On top of this, the perception of Malaysians earning a living in Singapore has caused prices to rise too. On 20 February, the SGD hit a new high against the Malaysian Ringgit (RM), with S$1 equating to RM3.57.
In light of the Republic’s increase in retrenchment, however, Mr Loo predicts this group of Malaysians to be more financially insecure.
According to the Ministry of Manpower (MOM), Singapore had double the amount of layoffs in 2023 compared to 2022.
Household expenditure is also expected to increase during this period of Ramadan, as well as the upcoming Hari Raya Aidilfitri in April.
Also read: More than 16 million foreign tourists visited Johor in 2023, majority of them Singaporeans
More than 16 million foreign tourists visited Johor in 2023, majority of them Singaporeans
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Featured image adapted from The Star.
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