Led by the poleetions Singapore has achieved the enviable of being a country with on of the most millionaires
Shiok Shiokalingam
lol
SINGAPORE - The number of millionaires in Singapore rose to 333,204 in 2023. This was about 0.4 per cent more than the figure of 332,000 in 2022.
Conversely, the worldwide tally shrank to 58 million in 2023, from 59.4 million in 2022.
Millionaires - referring to those with a net worth of US$1 million and above - made up 1.5 per cent of the world's population in 2023.
Despite forming such a small percentage, the world's millionaires owned nearly half of global household wealth. Their total wealth came in at just under US$214 trillion (S$288.8 trillion), said UBS in the 15th edition of its Global Wealth Report, released on July 10.
The Swiss bank studied 56 markets in the Asia-Pacific, including Singapore; the Americas; and the Europe, Middle East and Africa regions for this year's report.
These markets collectively represented over 92 per cent of the world's wealth in 2022.
The US dollar was used in this study to make it easy to compare different economies.
The study found that the United States had the largest number of millionaires at nearly 22 million, making up 38 per cent of the world's millionaires.
Mainland China was in second place with just over six million (10 per cent), and Britain was third with slightly over three million millionaires (five per cent).
Singapore placed 22nd in 2023, with its 333,204 millionaires forming 0.6 per cent of the world's millionaires.
The Republic was behind India (in 14th spot), which had nearly 870,000 millionaires and Hong Kong (16th), with around 630,000 millionaires.
Singapore's millionaires had a combined net worth - the difference between their total assets and their total liabilities - of US$1.2 trillion in 2023.
Assets include financial ones, such as cash and equities, and non-financial assets, such as residential property, while liabilities include mortgage loans, car loans and credit card debts.
The millionaire population made up 6.6 per cent of the total number of adults here.
In 2023, total household wealth in Singapore rose 5.6 per cent from 2022 to just over US$2 trillion.
In comparison, global household wealth grew 4.2 per cent in 2023, following a three per cent contraction in the previous year.
https://www.asiaone.com/singapore/number-millionaires-singapore-soars-past-333000-2023
Shiok Shiokalingam
lol
Number of millionaires in Singapore soars past 333,000 in 2023
SINGAPORE - The number of millionaires in Singapore rose to 333,204 in 2023. This was about 0.4 per cent more than the figure of 332,000 in 2022.
Conversely, the worldwide tally shrank to 58 million in 2023, from 59.4 million in 2022.
Millionaires - referring to those with a net worth of US$1 million and above - made up 1.5 per cent of the world's population in 2023.
Despite forming such a small percentage, the world's millionaires owned nearly half of global household wealth. Their total wealth came in at just under US$214 trillion (S$288.8 trillion), said UBS in the 15th edition of its Global Wealth Report, released on July 10.
The Swiss bank studied 56 markets in the Asia-Pacific, including Singapore; the Americas; and the Europe, Middle East and Africa regions for this year's report.
These markets collectively represented over 92 per cent of the world's wealth in 2022.
The US dollar was used in this study to make it easy to compare different economies.
The study found that the United States had the largest number of millionaires at nearly 22 million, making up 38 per cent of the world's millionaires.
Mainland China was in second place with just over six million (10 per cent), and Britain was third with slightly over three million millionaires (five per cent).
Singapore placed 22nd in 2023, with its 333,204 millionaires forming 0.6 per cent of the world's millionaires.
The Republic was behind India (in 14th spot), which had nearly 870,000 millionaires and Hong Kong (16th), with around 630,000 millionaires.
Singapore's millionaires had a combined net worth - the difference between their total assets and their total liabilities - of US$1.2 trillion in 2023.
Assets include financial ones, such as cash and equities, and non-financial assets, such as residential property, while liabilities include mortgage loans, car loans and credit card debts.
The millionaire population made up 6.6 per cent of the total number of adults here.
In 2023, total household wealth in Singapore rose 5.6 per cent from 2022 to just over US$2 trillion.
In comparison, global household wealth grew 4.2 per cent in 2023, following a three per cent contraction in the previous year.
https://www.asiaone.com/singapore/number-millionaires-singapore-soars-past-333000-2023
