Singapore 3rd best country for ‘opportunity advantage’ and building generational wealth: Report

SINGAPORE: Here’s some news for families who want to future-proof their children and who can afford to choose a country where they can best build generational wealth: the top three are Switzerland, the United States, and Singapore.

The Henley Education Report, released on Tuesday (Feb 13), shows “how first-class education combined with expanded global access rights creates significant opportunity for the next generation, growing their global networks, maximizing their career prospects, earning potential, and economic mobility for greater success and prosperity across their lifetimes.”

The index looks at residence and citizenship by investment programs across the globe based on the following parameters: education and employment opportunities, earning potential, career advancement, economic mobility, and livability.

This gives investors, entrepreneurs, and wealthy families a benchmark for determining and comparing the countries that offer the best opportunities for future generations to advance their careers and maximize income potential.

“Our index helps guide families on tailored investment migration strategies to clear pathways for their children and heirs to access the world’s best schooling, most lucrative job markets, and enhanced quality of life through the privileges and flexibility of alternative residence and citizenship by investment options that give them the right to study, live, work, and invest in countries of their choice,” said Dominic Volek, Group Head of Private Clients at Henley & Partners.

Switzerland tops the list with a score of 85 per cent, followed by the USA (82 per cent) and Singapore (79 per cent). Australia (75 per cent) and Canada (74 per cent) round out the top five.

While it received top marks for earning potential, career advancement, and top-tier employment prospects, Switzerland’s lowest mark was for premium education. But Henley & Partners pointed out the country’s “excellent quality of life,” two per cent unemployment rate, “beautiful mountainous scenery, and modern, livable cities.”

The US also scored well in the first three parameters but got lower marks in the high livability category. The report noted that the USA has the highest number of Top 250 universities and that “the opportunity to access outstanding education is unparalleled.”

Singapore got a perfect score in the earning potential metric and received high marks for top-tier employment prospects and economic mobility. For premium education, however, it received a score of 55.

“Singapore drives innovation and growth in the region and the world alike, focusing on cutting-edge development in banking, engineering, fintech, IT, and software development.

The competitive job market adopts a skills-first approach, meaning employers will overlook a lack of experience if a candidate possesses the necessary skills, allowing recent graduates more ease of entry.

While a world-class education on its own secures a wealth of opportunities in Singapore, coupling it with residence rights in this global innovation hub ensures security for generations to come,” the index reads. /TISG

Read also: 6 countries—including SG—now tied for top spot on most powerful passport list

Featured image by Depositphotos