17-08-2023, 07:22 AM
Chor Khieng Yuit
Senior Correspondent
UPDATED 8 HOURS AGO
SINGAPORE – Global household wealth went into decline in 2022 but Singapore managed to buck the trend.
A new report noted that household wealth here rose 7.2 per cent in 2022 to US$1.906 trillion, while the average household increased its financial standing by 6.3 per cent on a per adult basis.
......
Singapore’s rising wealth defies global trends, which indicate that total net household wealth dropped 2.4 per cent to US$454.4 trillion in 2022, while the wealth per adult declined 3.6 per cent.
......
much of the decline in global wealth – the first since the 2008 financial crisis – was due to inflation and the strength of the US dollar against other currencies.
......
The study, now in its 14th year, covers 5.4 billion adults around the world and across the wealth spectrum – from billionaires to the middle- and lower-income levels.
It found that median wealth per Singapore adult – this takes the middle number in the whole database – rose 6.2 per cent from 2021 to US$99,488.
......
Singapore’s Gini coefficient, a measure of economic inequality, was 78.8 per cent in 2022, lower than the world level of 88.3 per cent (Levin: I think this report used a different formula as the figures are ridiculously high for both. One thing is all formulae for gini coefficient I have come across have never considered cash/vouchers given to certain groups of citizens so the Gini coefficient figures tend to be wrong and become meaningless)
https://www.straitstimes.com/business/ho...lth-report
Senior Correspondent
UPDATED 8 HOURS AGO
SINGAPORE – Global household wealth went into decline in 2022 but Singapore managed to buck the trend.
A new report noted that household wealth here rose 7.2 per cent in 2022 to US$1.906 trillion, while the average household increased its financial standing by 6.3 per cent on a per adult basis.
......
Singapore’s rising wealth defies global trends, which indicate that total net household wealth dropped 2.4 per cent to US$454.4 trillion in 2022, while the wealth per adult declined 3.6 per cent.
......
much of the decline in global wealth – the first since the 2008 financial crisis – was due to inflation and the strength of the US dollar against other currencies.
......
The study, now in its 14th year, covers 5.4 billion adults around the world and across the wealth spectrum – from billionaires to the middle- and lower-income levels.
It found that median wealth per Singapore adult – this takes the middle number in the whole database – rose 6.2 per cent from 2021 to US$99,488.
......
Singapore’s Gini coefficient, a measure of economic inequality, was 78.8 per cent in 2022, lower than the world level of 88.3 per cent (Levin: I think this report used a different formula as the figures are ridiculously high for both. One thing is all formulae for gini coefficient I have come across have never considered cash/vouchers given to certain groups of citizens so the Gini coefficient figures tend to be wrong and become meaningless)
https://www.straitstimes.com/business/ho...lth-report
![[Image: MOM-Work-pass-Dec-2022.png]](https://i.ibb.co/k0zYktF/MOM-Work-pass-Dec-2022.png)
![[Image: 66ce1e833ef6b6d9030b85888c20ae69]](https://s.yimg.com/ny/api/res/1.2/J5LJTxQHgLFLTCY4FJWqHQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTYwNTtjZj13ZWJw/https://media.zenfs.com/en/fortune_175/66ce1e833ef6b6d9030b85888c20ae69)