Bangkok Post:

Singapore is expected to pull ahead of Hong Kong as home to the highest concentration of millionaires over the next decade, sealing its reputation as a wealth centre not just in Asia but worldwide.

And while the US and Japan should remain the top two largest global economies, emerging markets such as China, India, Russia and Brazil will make their presence felt more strongly.

Now ranked seventh in terms of total net worth, China will grab third place by 2017, bypassing several G7 countries to become the third-richest country, while India is expected to make its debut in the top 10 at No 8. Russia and Brazil will also display significant growth, moving up from 19th to 11th place and 15th to 12th place respectively.

The Economist Intelligence Unit and Barclays Wealth released a report this week that forecasts the evolution of the level and distribution of household wealth in 50 countries between 2007 and 2017. Household wealth was measured using three components – financial holdings such as cash and other liquid assets, non-financial holdings such as property, and an aggregate measure that combined the two.

Read the full article at Bangkok Post:

Well, my only guess is the HDB property syndrome…with most Singaporeans above the age of 35 “owning” their own property does have the opportunity to sell them away for a hefty profit during the property boom…and starts a small business while staying in expensive rental apartments.

There are also many millionaires may had migrated into Singapore to feel “safe” and “comfortable” and retire here. Singapore had also became one of the best country to invest their money in.

Yes, for now we does feel safe to go out at night without being mugged or killed as we does have one of the lowest crime rates in the world! The only thing to look out for is scams, trickery, smelly armpits and bad breath…haha.

Oh don’t dream about being a millionaires…do take some actions to be one soon!

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