#5: Singaporeans Are Rich. But How Rich?

#5: Singaporeans Are Rich. But How Rich?

Based on the ‘household wealth per adult’ published in the Global Wealth Report 2019 by Credit Suisse, Singaporeans are the sixth richest people in the world.

Approximately 2.18 million Singaporeans — almost half of Singapore’s adult population — are among the world richest top 10% with a wealth of at least US$109,400 (S$148,200). About 226,000 Singaporeans, or 5% of the population, belong to the top 1% in the world with over US$936,400 (S$1.26 million) to their name.

On the other hand, around 14% of Singapore’s population, or 700,000 adults, have less than US$10,000 ( S$13,500) to their name. This percentage however, is well below the global average of 58%.

Singaporeans are also the second richest in Asia with an average wealth of US$298,000 (S$403,700) per adult. Hong Kong tops the Asia’s list with an average wealth of US$489,260 (S$663,000)

(Image credits: Credit Suisse, Sanja Bucko)