It’s been a bumper few years in Singapore when it comes to household finances, with family wealth rising 9.2% a year on average from 2019 to 2021. That far outpaces Hong Kong’s 2.3%, BI analyst Sharnie Wong calculated from Credit Suisse Group AG’s Global Wealth Report 2022 published last week.
Singapore is slowly catching up with Hong Kong in the race to be Asia’s wealth hub. Make that very slowly.
It’s going to take the Southeast Asian nation at least 17 years to displace its rival, according to Bloomberg Intelligence analysis.
