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Singaporeans each hold almost RM800,000 in financial assets on average, country ranks among top five in world
A view of private residential apartments and public housing estates in Singapore June 13, 2016. — Reuters pic
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By Malay Mail
Saturday, 05 Oct 2024 1:19 PM MYT
SINGAPORE, Oct 5 – Singapore residents hold more financial assets on average compared to those in many other countries, a recent global wealth report has revealed.
According to the Allianz Global Wealth Report 2024, Singapore ranked fourth worldwide with net financial assets per capita at €171,930 (S$246,000 or RM800,000) recorded in 2023.
In comparison, Malaysia ranked 40th with just €9,430 (RM44,000) net financial asset per capita.
The United States took the top spot with net financial assets per capita of €260,320, followed by Switzerland with €255,440, and Denmark with €172,200, just ahead of Singapore.
In the region, Singapore is ahead of Taiwan, which ranked fifth with €148,750, and Japan, which was placed 12th with €91,940.