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Tuesday, 17 November 2015

Singapore will be a land of millionaires by 2020, predicts report

Almost 1 in 30 residents will be ultra-wealthy in five years.

Millionaires, or high net worth individuals (HNWIs), will grow at a faster rate in Singapore than in Hong Kong, according to a study by WealthInsight.

Singapore currently has 154,000 HNWIs that collectively hold US$806.3b in net wealth, reflecting a population growth of 17% from the 130,000 millionaires in the country in 2010. By 2020, Singapore HNWIs are expected to number 188,000- roughly 1 millionaire in 30 people. This reflects an 18.3% hike in the next half-decade, versus the expected 15.6% HNWI growth in Hong Kong.

Read? Singapore will be a land of millionaires by 2020, pr
edicts report


  1. how to calculate net worth. Is the property u currently staying considered? if yes, then bit diff maybe!

    1. exclude the value of one's designated residential home

  2. i think it should be included because when you need it (touch wood) you need it.
    Of course, you won't & shouldn't consider your home as an investible asset.
    But you might have calculated or thought of as a last resort of fallback under circumstances beyond your control.
    And we know for many people it is just so.
    Example the desperate cash strapped businessman who mortgage his home trying his best to save his baby(his company).
    The cancer stricken patient who needs money to seek very expensive doctor's treatment, hoping for a cure or live as normal and as long as possible.
    The no-hope gambler, etc.....

  3. If the residential property is included, the percentage will be much higher, I guess then there will be a millionaire in every 4~5.

  4. i agree.
    That's why Singaporeans are known to be or considered "very rich' (Asset Rich, Cash poor) by SEA neighbours.
    It's like what the saying, "Pu Toa Kwa A Tiot, Chiat Buay Tiot".
    Just go tour Taiwan and you will find most of the Taiwanese think Singaporeans are quite well off if not very well off.
    Ha! Ha!
    Has our G's policies something to do with it?


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