Despite overall growth in the Asia-Pacific region, Singapore's proportion of millionaire households went down to from 17.1 percent in 2012 to 10 percent in 2013, according to latest figures by strategy consulting firm Boston Consulting Group (BCG).
Singapore falls just below oil-rich country Qatar (17.5 percent) and tax-haven Switzerland (12.7 percent). According to Channel NewsAsia, this means that Singapore has the third highest density of millionaire households in the world.
The BCG predicts global private wealth to have a compound annual growth rate of 5.4 percent over the next five years, and to reach USD198.2 trillion by the end of 2018. The Asia-Pacific region (excluding Japan) will account for half of this total growth.
Despite overall growth in the Asia-Pacific region, Singapore's proportion of millionaire households went down to from 17.1 percent in 2012 to 10 percent in 2013, according to latest figures by strategy consulting firm Boston Consulting Group (BCG).
Singapore falls just below oil-rich country Qatar (17.5 percent) and tax-haven Switzerland (12.7 percent). According to Channel NewsAsia, this means that Singapore has the third highest density of millionaire households in the world.
The BCG predicts global private wealth to have a compound annual growth rate of 5.4 percent over the next five years, and to reach USD198.2 trillion by the end of 2018. The Asia-Pacific region (excluding Japan) will account for half of this total growth.