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Another report has come out to say that Singaporeans are among the wealthiest people around. In fact, they are the second-richest in Asia after Japan.
According to the Allianz 2011 global wealth report, Singaporeans average gross financial assets per capita of US$126,982 (S$162,981), almost 12 times more than the US$10,955 Asian average.
"Singapore has the second-wealthiest inhabitants among the nine Asian countries surveyed, following Japan which has financial assets per capita of US$159,027," the report said yesterday.
In its calculations, Allianz said, gross financial assets include the investible financial assets of private households such as deposits and shares, and the total member's balance given by the Central Provident Fund.
It also used a population of 4.84 million.
Gross global financial assets rose in 2010 by 6.2 per cent to total US$135.8 trillion and were well in excess of the pre-crisis level for the first time, the report said.
The report analysed wealth and debt dynamics of private households in 50 countries.
In Asia, the nine countries covered were China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan and Thailand. Indonesians came in lowest with financial assets per capita at US$1,035.
Financial assets of the nine nations climbed by 5.9 per cent to about US$33.9 trillion in 2010.
Japan is still the country with the highest financial assets in the region, although its share is on the wane, followed by China and South Korea.
Singapore accounts for around 2 per cent of the total financial assets in these countries.
According to the report, most high wealth countries with average per capita wealth of more than US$51,585 are located in North America and western Europe, with the richest in the world still the Swiss, who have a per capita of US$295,545.
As far as other regions are concerned, only Australia, Japan, Singapore and Taiwan made it into the club of rich countries. It is estimated that there were 113 million high wealth individuals in 2010; of these, 2.5 million live in Singapore.
According to the Allianz 2011 global wealth report, Singaporeans average gross financial assets per capita of US$126,982 (S$162,981), almost 12 times more than the US$10,955 Asian average.
"Singapore has the second-wealthiest inhabitants among the nine Asian countries surveyed, following Japan which has financial assets per capita of US$159,027," the report said yesterday.
In its calculations, Allianz said, gross financial assets include the investible financial assets of private households such as deposits and shares, and the total member's balance given by the Central Provident Fund.
It also used a population of 4.84 million.
Gross global financial assets rose in 2010 by 6.2 per cent to total US$135.8 trillion and were well in excess of the pre-crisis level for the first time, the report said.
The report analysed wealth and debt dynamics of private households in 50 countries.
In Asia, the nine countries covered were China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan and Thailand. Indonesians came in lowest with financial assets per capita at US$1,035.
Financial assets of the nine nations climbed by 5.9 per cent to about US$33.9 trillion in 2010.
Japan is still the country with the highest financial assets in the region, although its share is on the wane, followed by China and South Korea.
Singapore accounts for around 2 per cent of the total financial assets in these countries.
According to the report, most high wealth countries with average per capita wealth of more than US$51,585 are located in North America and western Europe, with the richest in the world still the Swiss, who have a per capita of US$295,545.
As far as other regions are concerned, only Australia, Japan, Singapore and Taiwan made it into the club of rich countries. It is estimated that there were 113 million high wealth individuals in 2010; of these, 2.5 million live in Singapore.
