Originally Posted by hiro
No, not at all - if you have a more or less decent hosting company - shared hosting will do really fine.
Mostly the speed problems are directly related to your website itself.
What is the url? Write it here and we might suggest you few things
Tip#1 //// Install "W3 Total Cache" (free plugin)... just have a quick look in youtube and you will be able to find a good tutorial how to configure it