Number of millionaires rise 21.3 per cent in S'pore

Hong Kong posted the fastest pace of growth globally in the number of new millionaires for the second consecutive year with a 33 per cent jump last year, as Singapore saw its number of millionaires rise 21.3 per cent - the third-fastest rate of increase - fuelled by strong macroeconomic growth and by market performance.



According to the Asia-Pacific Wealth Report distributed in Hong Kong yesterday, Hong Kong's number of high net worth individuals (HNWI) climbed to 101,300, and their wealth expanded 35 per cent to US$511 billion (S$654 billion).

The report, done by Capgemini and Bank of America, looked at the number of HNWI - those who have at least US$1 million in investable assets excluding primary residences and collectibles.

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