![](https://i.imgur.com/CLvY2jA.png")
05-07-2022, 04:51 AM
Wonder why there are so many poor people in sgtalk?
https://www.businesstimes.com.sg/wealth-...ly-in-2021
Singapore millionaires surge to 526,000; ultra-wealthy up 8.6% to 4,200
Ultra-rich - those with at least US$30 million - expected to jump further 43% to almost 6,000 by 2026
A SURGE in asset prices in 2021 boosted the number of ultra-high-net-worth individuals (UHNWIs) globally and in Singapore, despite ongoing Covid disruptions.
Knight Frank's latest 2022 edition of The Wealth Report found that globally, the UHNWI population rose by 51,000, a 9.3 per cent increase in 2021, compared to a growth of 2.4 per cent in 2020. UHNWIs are defined as those with net assets of at least US$30 million.
In Singapore, the number of UHNWIs rose 8.6 per cent to 4,206 in 2021, from 3,874 in 2020. The growth rate in 2020 was a tad higher, at 10.2 per cent.
The outlook for wealth until 2026 is robust. Between 2021 and 2026, Singapore's UHNWI population is expected to grow by 43 per cent to almost 6,000. The growth rate between 2016 and 2021 was a dramatic 158 per cent, thanks to "the growing regional and global allure of the city's reputable status as a safe haven for investments".
Knight Frank estimates net wealth on a location-by-location basis using balance sheet data, where available, on households' financial and non-financial wealth. Net wealth includes primary residences and second homes not owned primarily as investments.
Forecasts are arrived at using a number of metrics, such as GDP per capita, life expectancy, government consumption, and political risk.
The report says savings amassed in 2020 "enabled significant investment upside" over the past 12 months. "Access to technology and the digital democratisation of investments, including private equity, have led to greater levels of wealth creation and growth. This is something that will gain momentum in coming years..."
Knight Frank says the rise in affluence "permeates all levels of Singapore society". The report cites Singapore Department of Statistics data, which shows that the median household income rose 1.5 per cent year on year in 2021, after falling 2.4 per cent in 2020.
In the firm's City Wealth Index, which reflects the world's wealth capitals, Singapore rose to 7th place, overtaking Hong Kong. The top 5 in the index are London, New York, Paris, Los Angeles and Tokyo. Hong Kong ranked 8th.
https://www.businesstimes.com.sg/wealth-...ly-in-2021
Singapore millionaires surge to 526,000; ultra-wealthy up 8.6% to 4,200
Ultra-rich - those with at least US$30 million - expected to jump further 43% to almost 6,000 by 2026
A SURGE in asset prices in 2021 boosted the number of ultra-high-net-worth individuals (UHNWIs) globally and in Singapore, despite ongoing Covid disruptions.
Knight Frank's latest 2022 edition of The Wealth Report found that globally, the UHNWI population rose by 51,000, a 9.3 per cent increase in 2021, compared to a growth of 2.4 per cent in 2020. UHNWIs are defined as those with net assets of at least US$30 million.
In Singapore, the number of UHNWIs rose 8.6 per cent to 4,206 in 2021, from 3,874 in 2020. The growth rate in 2020 was a tad higher, at 10.2 per cent.
The outlook for wealth until 2026 is robust. Between 2021 and 2026, Singapore's UHNWI population is expected to grow by 43 per cent to almost 6,000. The growth rate between 2016 and 2021 was a dramatic 158 per cent, thanks to "the growing regional and global allure of the city's reputable status as a safe haven for investments".
Knight Frank estimates net wealth on a location-by-location basis using balance sheet data, where available, on households' financial and non-financial wealth. Net wealth includes primary residences and second homes not owned primarily as investments.
Forecasts are arrived at using a number of metrics, such as GDP per capita, life expectancy, government consumption, and political risk.
The report says savings amassed in 2020 "enabled significant investment upside" over the past 12 months. "Access to technology and the digital democratisation of investments, including private equity, have led to greater levels of wealth creation and growth. This is something that will gain momentum in coming years..."
Knight Frank says the rise in affluence "permeates all levels of Singapore society". The report cites Singapore Department of Statistics data, which shows that the median household income rose 1.5 per cent year on year in 2021, after falling 2.4 per cent in 2020.
In the firm's City Wealth Index, which reflects the world's wealth capitals, Singapore rose to 7th place, overtaking Hong Kong. The top 5 in the index are London, New York, Paris, Los Angeles and Tokyo. Hong Kong ranked 8th.
