19 Oct '11, 9am

Millionaires in Singapore to grow from 183,000 to 408,000 by 2016

Millionaires in Singapore to grow from 183,000 to 408,000 by 2016

The number of millionaires in Singapore are expected to more than double by 2016, from the current 183,000 to 408,000. -- PHOTO: REUTERS By Magdalen Ng The number of millionaires in Singapore are expected to more than double by 2016, from the current 183,000 to 408,000. Singaporeans are also the second richest in the Asia Pacific region, and the fifth richest in the world, with an average wealth of US$285,000 (S$359,600). This is a 32.1 per cent increase from the figure of US$215,000 in Jan 2010, less than two years ago. This is according to Credit Suisse's latest global wealth report, that takes into account the individuals' assets after subtracting debt. The report also states that most of the increase was due to the saving rate and asset price increases, rather than exchange rate movements. Please enable JavaScript to view the comments powered by Disqus. blog comments p...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

Comments

  1. 21 Oct '11, 5am

    More millionaires is coming into Singapore to become billionaire; while more foreign slaves (including existing Singaporeans slave) are needed to work in Singapore in exchange for PR and Citizenship status.

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