Singapore will have more millionaires per population vs US and China by 2030: HSBC

The study looks at resident population which comprises citizens and permanent residents. - ST

SINGAPORE (The Straits Times/Asia News Network): In the next eight years, the number of millionaires in Singapore as a share of its population will grow to surpass that of the United States, China or any other economy in the Asia Pacific region, said HSBC in a report.

The Republic, where 7.5 per cent of the adult population had wealth of at least US$1 million ($1.38 million) in 2021, would see the share of millionaires rise to 9.8 per cent in 2025, and then jump to 13.4 per cent in 2030.