The following charts breaks down the expenditures of the households of two Asian countries in proportion to their total income, both at the dawn of the 21st century and 20 years later.
Expectedly, the amount of money spent on accommodation is the main focus of expenditure for Singapore and South Korea in 2020, amounting to 40% and 30% respectively. This was not always the case, as the average Korean family used to spend 8% more on other commodities and services than on the roofs over their heads back in the year 2000.
Welfare spending, which is 18% of the Korean house budget in 2020, has seen an extravagant rise, tripling over the shown time interval. On the other hand, Singapore’s quest for health and longevity only doubled its price tag, bearing in mind that it began at a scant 3%.
As far as the dinning receipts go, things were looking up for said regions, as food related costs decreased by 4% in South Korea, with Singapore almost tripling its savings with an 11% drop for the time period in question.