Why Is Singapore Full Of Millionaires? - Spear's Magazine

Why Is Singapore Full Of Millionaires?

Singapore is arguably the Asia Pacific centre for private banking, one of many niches it has carved out of Hong Kong’s capital markets dominance over the last 10 years. But is it where the wealth is, or just where the wealth goes?

A new report from WealthInsight states the overall high net worth individual wealth in Singapore at US$748.8 billion in 2013, a figure that has risen 51.7% since the recovery from the global financial crisis began in 2009. The study expects Singaporean high net worth wealth to top a trillion by 2018.