WIDELY known as the Earth’s most business-friendly city, Singapore is two places higher after being ranked the fourth richest city in the world for this year.
Singapore is now home to 244,800 resident millionaires and 30 billionaires.
Some 3,400 high-net-worth individuals moved to Southeast Asia’s richest country in 2023 alone.
Singapore surpassed London following an impressive 64 percent increase in the number of millionaires over the past ten years.
London, which ranked the wealthiest city in the world for many years, now sits in 5th place with just 227,000 millionaires and 35 billionaires.
The annual data was published by international wealth migration specialists Henley & Partners in partnership with global data intelligence firm New World Wealth.
The report also predicted that Singapore is likely to steal the crown from Tokyo as Asia’s wealthiest city very soon.
New York retained its spot as home to the world’s largest millionaire population, followed by Northern California’s Bay Area, and Tokyo.