SINGAPORE: A new report by Prime Casino reveals that Singapore ranks as the second most popular city in the world for millionaires.
With 4,305 millionaires per 100,000 residents, Singapore comes in just behind Zurich, Switzerland, which tops the list with 20,374 millionaires per 100,000 people.
The report points to Singapore’s position as a wealth magnet, home to 244,800 millionaires. This accounts for 4.31% of the city-state’s population, showcasing its allure for high-net-worth individuals.
Despite the concentration of wealth, the report also sheds light on the challenges of becoming a millionaire in Singapore. Based on the average post-tax annual salary of $53,958.84, it would take a person 964 weeks—nearly 18.5 years—to amass a million dollars.
This combination of wealth and economic opportunity continues to attract investors and high-earners from around the globe, reinforcing Singapore’s reputation as one of the world’s premier destinations for financial success, according to the index. /TISG