Singaporeans Second Richest in Asia

Singapore ranks fourth globally and second in Asia Pacific in terms of average personal wealth, according to the inaugural global wealth report by Credit Suisse Research.

Average wealth per adult in Singapore has grown strongly in the last decade, rising from US$105,000 per adult to over US$250,000 in 2010, supported by a period of strong domestic economic growth and asset price increases.

Singapore's two-fold increase in average wealth per adult has also been accompanied by a 7 per cent slide in average debt.

From a macro perspective, the report finds that the global wealth currently held by 4.4 billion adults has increased 72 per cent since 2000 to reach US$195 trillion.