Singapore Airlines Crowned 2024 Best Airline in Asia, Ranked #2 Globally

With our leave requests finally approved, it is time to pack our bags and escape the daily grind of the Lion City. It is important that our adventure is enjoyable from the moment we step on the plane as traveling is our chance to truly unwind.

To help us make the best choices, Skytrax, a UK-based consultancy specializing in the air transport industry, conducted the 2024 World Airline Awards. Since its inception in 1999, the World Airline Awards have been based on an annual global customer satisfaction survey. This year, the competition was fierce, with results so close they required a recount. Qatar Airways claimed the top spot globally, while Singapore Airlines secured a close second.

ASIA’S BEST AIRLINES IN 2024

#1: SINGAPORE AIRLINES

Singapore Airlines not only topped the list as Asia’s best airline but also secured the second spot globally. Known for its exceptional cabin crew and world-class service, Singapore Airlines has consistently ranked as a 5-star airline by Skytrax for the past three decades.

It was the first to introduce the Airbus A380 and Boeing 787-10 into service and is the only operator of the ultra-long-range Airbus A350-900. The airline is celebrated for its efficiency, convenience, and spacious cabins, making it a favorite among travelers.

#2: ANA (ALL NIPPON AIRWAYS)

Ranked fourth globally, ANA (All Nippon Airways) is a Japanese airline offering both domestic and international flights. Known for its excellent service, ANA has received a 5-star rating every year since 2013. The airline also won awards for the World’s Best Airport Services and the World’s Cleanest Airline. Committed to expansion, ANA plans to introduce new short-haul and medium-haul aircraft by 2030.

#3: CATHAY PACIFIC

Cathay Pacific, the flag carrier of Hong Kong, flies to over 200 destinations and consistently ranks high in customer satisfaction. This year, it was recognized as the World’s Cleanest Airline and the provider of the World’s Best Economy Class. It also received the Cargo Airline of the Year award at the 49th Annual Airline Industry Achievement Awards.

#4: JAPAN AIRLINES

Japan Airlines, founded in 1951, was Japan’s first international airline and now connects over 349 airports in 54 countries and regions. Known for its hospitality, it has been awarded a 5-star rating by Skytrax and consistently ranks high in customer satisfaction.

#5: EVA AIR

EVA Air, one of Taiwan’s largest airlines, operates both passenger and cargo services to more than 40 international destinations. Celebrated for its cheerful environment and brightly painted livery, EVA Air is known for its fun in-flight experience and a wide range of service items.

WORLDWIDE RECOGNITION

The World Airline Awards are based on a survey conducted from September 2023 to May 2024, with over 21 million customers from 100 countries who evaluated more than 350 airlines. This extensive survey captures a wide range of opinions and experiences, providing a comprehensive overview of the global airline industry.

Qatar Airways’ win marks its eighth time as the World’s Best Airline, highlighting its commitment to quality and service. Although Singapore Airlines slipped to second place, it remains a key player in the industry, renowned for its exceptional service and innovation.

LOOKING AHEAD

The World Airline Awards serve as a benchmark for excellence in the airline industry, recognizing airlines that excel in service quality, customer satisfaction, and innovation. The prominence of Southeast Asian airlines in these awards indicates a positive trend for the region’s aviation industry.

As these airlines continue to invest in fleet modernization and service enhancements, they are likely to further strengthen their positions in the global market.

Sources: 1,2, & 3

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Singapore’s Gold Medal Payout: World’s Most Generous Prize

As the 2024 Paris Olympic Games unfold, the world’s top athletes are competing not only for individual glory but also for their countries’ pride. The medals themselves are a spectacle: gold medals consist of 523 grams of silver coated in 6 grams of gold, while silver medals weigh 525 grams and are made of pure silver. Bronze medals weigh 455 grams and are composed of copper, tin, and zinc. Adding a unique touch to their traditional design, this year’s medals also incorporate a piece of iron from the Eiffel Tower.

While nations like the U.S., China, and France currently lead the medal tally, another exciting race is taking place behind the scenes: which country offers the most generous reward for Olympic gold?

The answer is Singapore, as it stands out with its extraordinary prize offerings. Through its Major Games Award Programme (MAP), it awards an impressive S$1 million to gold medalists in individual events. Silver medalists receive S$500,000, while bronze medalists are given S$250,000. For team events—such as athletics relays or badminton doubles—the reward is even higher, with winners taking home S$1.5 million. In the case of team sports like basketball or football, the prize reaches S$2 million. Silver and bronze medalists in team events receive 50% and 25% of these amounts, respectively.

To date, the only athlete to have claimed this substantial prize is swimmer Joseph Schooling, who won gold in the 100m butterfly at the Rio 2016 Olympics.

In comparison, American athletes are awarded US$37,500 (approximately S$51,000) for each gold medal, US$22,500 (about S$30,600) for silver, and US$15,000 (around S$20,400) for bronze. And the neighboring country, Malaysia, offers one million ringgit (approximately S$341,000) for a gold medal.

Other notable countries include Hong Kong, which provides HK$6 million (approximately S$1.03 million) per gold medalist through its Athlete Incentive Awards Scheme, and Serbia, which awards US$218,000 (about S$295,000) for gold medalists.

Image Credits: facebook.com/Olympics

With its impressive prize structure, Singapore leads the world in Olympic gold medal payouts, highlighting its dedication to celebrating athletes’ extraordinary accomplishments. As the Paris 2024 Olympics continue until August 11, we look forward to seeing more Singaporean athletes make their mark in sports.

Sources: 1,2, & 3

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What to Do If You’re Stuck in a Job You Hate

We’ve all been there—stuck in a job that feels like a never-ending grind. A friend of mine has been thinking about quitting for ages but hesitates due to the high cost of living and family commitments. It’s tough to stay in a job you dislike just to stay afloat financially. I’ve been in that position too.

But you do have options. Here are some tips to handle it:

#1: IDENTIFY WHAT YOU CAN AND CAN’T DO

Take a step back and list what aspects of your job you can control versus what you cannot. This might include seeking help from your co-worker or making the most of your downtime. Knowing your limits can help you make better decisions.

#2: MAXIMIZE YOUR DOWNTIME

Remember, your job is just one part of your life. Engaging in hobbies, spending time with friends, or volunteering can offer fulfillment and lessen the pressure on your job to provide all your emotional needs. Many find that pursuing outside interests brings a renewed sense of purpose. Try pickleball or visit local museums!

#3: WEIGH YOUR OPTIONS

Assess both the positive and negative aspects of your job. While the drawbacks might be obvious, do not forget to consider the benefits—such as a steady paycheck, a structured day, workplace friendships, or a sense of contribution. For the negatives, think about possible solutions, either on your own or with your company’s help.

#4: EXPLORE NEW OPPORTUNITIES

Say that you’ve weighed your options and things in your current company are still grim. Sometimes, a change of environment can refresh your outlook. Be open to exploring new professional fields or industries. Even if you’re not ready to leave your current job, learning about different settings can help you understand what you truly want.

#5: CONSIDER FINANCIAL IMPLICATIONS

Worrying about a potential pay cut when changing jobs is common. However, a new role might offer better compensation or benefits. Salary can depend on various factors like industry, location, and your skills. If increasing your income is a priority, it’s often achievable with the right strategy.

#6: PLAN YOUR NEXT STEPS

If your job is negatively impacting your health or happiness, it may be time to plan a transition. Start networking, update your resume, and think about your next career move. Even if you do not land a new job immediately, laying the groundwork can set you up for success. In the meantime, focus on your well-being and stay connected with friends.

Image Credits: unsplash.com

Being stuck in a job you hate does not have to be your only option. By understanding your situation, weighing your choices, and taking proactive steps, you can move towards a more fulfilling career. Remember, you have the power to create a path that aligns with your needs, goals, and well-being.

Sources: 1 & 2

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Why Renting is the New Home Ownership in Singapore

With skyrocketing property prices and evolving lifestyles, more Singaporeans are finding renting to be a practical and often better choice. Here’s why renting is becoming the new home ownership in the Lion City.

FLEXIBILITY AND MOBILITY

Renting offers the freedom to move easily, whether for job opportunities, lifestyle changes, or personal preferences.

For instance, my friend, a marketing executive, recently secured a job in a different part of the city. As a renter, she could effortlessly relocate closer to her new workplace in Raffles Place, avoiding the hassle and cost of selling a property. This move significantly reduced her commute, giving her more time for herself and the things she cares about.

FINANCIAL CONSIDERATIONS

Owning a home in Singapore requires substantial financial commitments, from hefty down payments to long-term mortgage repayments. According to the PropertyGuru Singapore Consumer Sentiment Study H2 2022, younger Singaporeans (aged 22 to 29) are increasingly turning to renting due to insufficient savings for property purchases. This is not surprising, given that young, unmarried Singaporeans face restrictions in the HDB market. These restrictions include the need to apply as a couple or family unit, or wait until they turn 35.

Property costs can be overwhelming, but renting allows for better cash flow management. Without the need for a large initial payout, individuals can invest in their businesses, save more, or enjoy experiences that enhance their lives.

DEPRECIATION AND MAINTENANCE COSTS AVOIDANCE

Owning property involves more than just the purchase price. Maintenance, repairs, and renovations can accumulate costs over time. Moreover, property values may depreciate.

On the other hand, renters are free from these additional expenses since landlords usually handle property upkeep. This leads to significant savings and less financial stress.

ACCESS TO PRIME LOCATIONS

Renting can provide access to prime locations that might be unaffordable or unavailable to buy. Living close to the city center, with its vibrant lifestyle and convenient amenities, often comes with a high price tag for buyers. Renters, however, can enjoy these benefits without the long-term financial burden of a mortgage.

LIFESTYLE CHOICES

For many young professionals and expatriates, renting suits their lifestyle better. The flexibility to move closer to work, live in trendy neighborhoods, or enjoy various amenities often outweighs the traditional desire for home ownership. Renting supports a lifestyle that values convenience over long-term financial commitments.

For instance, my cousins, who are avid travelers, leave home once or twice a month. They can easily spend a month exploring Europe since they aren’t tied down by home ownership and its maintenance.

MARKET VOLATILITY

The property market in Singapore can be unpredictable, influenced by economic conditions, government policies, and global events. Renting provides a cushion against market volatility, as renters are not directly affected by property value fluctuations. This stability is particularly appealing in uncertain economic times.

IN A NUTSHELL

While home ownership has long been seen as a cornerstone of financial security, the trend in Singapore is shifting. Renting is increasingly recognized as a practical, flexible, and financially sound alternative.

Image Credits: unsplash.com

As the saying goes, home is where the heart is – and for many, that heart is happier and freer in a rented space.

Sources: 1,2, & 3

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Why Is It So Difficult To Save Money?

As I looked at my balance, I was overwhelmed by how fast my salary had disappeared. I’m not the only one! Many of us handle daily expenses and unexpected costs one day at a time, especially those living paycheck to paycheck. With the high cost of living, unnecessary purchases, and unforeseen expenses, why is it so challenging to save money? Here are some key reasons:

#1: NOT PRIORITIZING DEBT

Debt can be a major obstacle to saving money. The desire to pay off debt rather than save is strong, especially with revolving debt like credit cards. Interest rates on these accounts can fluctuate, often increasing the amount owed.

For example, the average interest rate on credit cards in Singapore is around 25% per annum. Consolidating debt with a low- or no-interest card or taking out a lower-interest personal loan can help ease this burden.

#2: IMPRESSING OTHERS WITH SPENDING

Social pressures can lead to overspending. Maybe friends invite you to an expensive restaurant, and you go along, only to split a hefty bill. Or perhaps you use a bonus to buy a status watch to fit in with big-spender pals. I recall a colleague who stole money from the company just to maintain face in their religious community.

If you find yourself overspending with friends, consider more affordable activities like museum-hopping, hiking, or local events. These are simple ways to save money while still enjoying time with friends.

#3: HAVING INSUFFICIENT INCOME

Your earnings need to cover your expenses, but sometimes unexpected costs outpace your paycheck. Keeping a budget helps track spending and identify areas for adjustment. For example, if your rent increases by 12%, you’ll need to find the extra money. In such cases, a side hustle might be beneficial.

#4: SHOPPING EXCESSIVELY

Shopping excessively doesn’t necessarily mean always filling your online cart. It could mean not being strategic about your spending. I’m guilty of this, especially since I prefer designer makeup and skincare for my sensitive skin. For instance, daily trips to a grocery store are more expensive than bi-weekly bulk shopping trips.

Making lists, tracking prices, and using coupons and cashback offers can help save money and even make the process enjoyable.

#5: LACKING MOTIVATION TO SAVE

Saving money is challenging if you don’t have a compelling reason. You might be overly focused on the present or unsure about future goals. Creating a savings plan starts with asking yourself where you want to be financially in the next 5 to 10 years and what you need to do to have “enough” money.

#6: INCREASING EVERYDAY EXPENSES

Many people debate whether the rising cost of living is as bad as it seems, but most Singaporeans have felt the pinch in recent years. Inflation affects housing, utilities, and groceries, and wages haven’t kept up.

#7: LACKING THE INSTINCT TO SAVE

Saving for the future isn’t a natural human instinct. Our brains struggle to think about the future in concrete terms. However, we can either trick our minds into better future planning or make saving money automatic. Behavioral economist and Nobel Prize winner Richard Thaler suggests, “If you want to help people accomplish some goal, make it easy.”

Image Credits: unsplash.com

By understanding the reasons why you need to save and making mindful adjustments, saving money can become more achievable.

Sources: 1,2, & 3

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