REUTERS/Edgar Su
People look at the skyline of the central business district from the Skybridge of The Pinnacles at Duxton public housing estate in Singapore.
Singapore is the wealthiest and most economically stable city in the world after ranking number one in Arcadis' "profit sub-index."
However, when Arcadis assessed 100 major cities in the world in its "people sub-index" it ranked only 48. The "people sub-index" takes into account income inequality, crime, education, work-life balance, health, and affordability.
This is because there are a number of looming issues that Singapore's government needs to tackle as soon as possible.
"The city... faces an aging population and a need for greater investment in social infrastructure. This, coupled with long working hours, income inequality and affordability, impacts Singapore's people subindex ranking," Arcadis says in the report.
Arcadis warns that Singapore needs to heavily invest in infrastructure to address the growing population too. It estimates that its population will grow to more than 6 million people by 2030, up from the current 5.69 million.
It notes that "a number of sustainability initiatives are currently underway which will proactively help Singapore to evolve and remain competitive," and that this will help the predicament Singapore faces.
"The government has committed significant investment over the next decade to improve mobility and connectivity within the city. This investment includes two new underground lines, extensions to four existing MRT lines, a new terminal and runway at Changi Airport, a high-speed rail link between Singapore and Malaysia and the relocation of the container port," it noted.