S’pore Ranked World’s 5th-Wealthiest City In 2022, Will Receive 2,800 High-Net-Worth Individuals

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Singapore Ranked World’s 5th-Wealthiest City & 2nd Wealthiest In Asia After Tokyo

Judging just from the obscene amounts paid for property, Singaporeans know there are many rich people in our country.

Just how do we compare with other cities in the world, though?

An investment migration consultancy has ranked Singapore as the fifth-wealthiest city in the world this year.

We may also get richer still, as 2,800 high-net-worth individuals are projected to be coming in this year.

Top 10 wealthiest cities

According to the Henley Global Citizens Report for the third quarter of 2022, released by London-based Henley & Partners, these are the top 10 wealthiest cities in the world.

While the United States (US) dominates the list with five cities, there are also four cities in Asia, including Tokyo, Japan and China’s Bejing and Shanghai.

Singapore fares well to come in at the middle of this list, and the second-wealthiest Asian city overall.

The top five cities in the Asia-Pacific are rounded off by Sydney in fifth. The Australian city is No. 11 on the global ranking.

5th-wealthiest city is Asia’s 2nd-biggest millionaire oasis

In their write-up on Singapore, Henley & Partners said we were Asia’s “second-biggest millionaire oasis”.

They pointed to the 249,800 millionaires in the country, which includes 336 centi-millionaires — a tycoon worth S$143 million(US$100 million) or more.

We also have 26 billionaires.

Tokyo, which is the wealthiest city in Asia, beats us with 304,900 millionaires.

However, they have fewer centi-millionaires and billionaires than us — only 263 centi-millionaires and 12 billionaires.

That indicates that wealth is “relatively evenly distributed” in Tokyo, as the middle classes and lower-tier millionaires are controlling most of the city’s wealth, the report said.

S’pore is world’s most business-friendly city

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