10-10-2013, 11:02 AM
Singaporean is richer than Japanese. No wonder private bankers business are booming, and more and more IPOs in Singapore. Are you part of the story?
Singaporeans second-richest in region
SINGAPORE — Asian wealth is riding high and Singapore is one of the region’s top performers with an ever increasing number of millionaires.
The Republic is the second-richest in the region and the eighth wealthiest globally — by measure of average wealth per adult — but yet only has a “moderate” level of household debt and inequality for a high wealth country, according to a report by Credit Suisse.
The annual Global Wealth Report, released yesterday, also forecasts that the Asia-Pacific will become the world’s wealthiest region by 2017, driven by emerging economies and the rising middle class.
“Household wealth (per adult) in Singapore has grown rapidly, rising 150 per cent from US$112,800 (S$141,200) in 2000 to US$281,800 in mid-2013,” Credit Suisse said. “Most of the rise is due to a high savings rate and asset price increase rather than exchange rate movements.”
This is the second consecutive year Singapore has ranked eighth globally. Within the region, Singapore rose from its third position last year to overtake Japan and place behind Australia’s US$403,000.
...
http://www.todayonline.com/business/sing...est-region
Singaporeans second-richest in region
SINGAPORE — Asian wealth is riding high and Singapore is one of the region’s top performers with an ever increasing number of millionaires.
The Republic is the second-richest in the region and the eighth wealthiest globally — by measure of average wealth per adult — but yet only has a “moderate” level of household debt and inequality for a high wealth country, according to a report by Credit Suisse.
The annual Global Wealth Report, released yesterday, also forecasts that the Asia-Pacific will become the world’s wealthiest region by 2017, driven by emerging economies and the rising middle class.
“Household wealth (per adult) in Singapore has grown rapidly, rising 150 per cent from US$112,800 (S$141,200) in 2000 to US$281,800 in mid-2013,” Credit Suisse said. “Most of the rise is due to a high savings rate and asset price increase rather than exchange rate movements.”
This is the second consecutive year Singapore has ranked eighth globally. Within the region, Singapore rose from its third position last year to overtake Japan and place behind Australia’s US$403,000.
...
http://www.todayonline.com/business/sing...est-region