Singapore becomes the region’s top financial hub

Singapore has established itself as the most prestigious wealth capital of Asia Pacific (Apac), according to Knight Frank. In the inaugural Rising of the Super Wealth Hub report, Singapore emerged as the top destination, topping other hubs across the region such including Dubai, Hong Kong, Sydney and Shanghai. The report outlines findings from an analysis of “super wealth hubs” within Apac with six indicators that were developed to assess the live activities, play and work aspects. The indicators are scored from 1- 1 per hub and 1 indicating the most successful achievement.

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Singapore has strengthened its position as the top wealth capital of Asia Pacific (Apac), according to Knight Frank. In its first “Rise of the Super Wealth Hub report, Singapore emerged as the most popular destination, surpassing other hubs in the region, such like Dubai, Hong Kong, Sydney and Shanghai. The report provides conclusions from an evaluation of “super wealth hubs” within Apac by using six indicators to evaluate the live, work and play aspects. The indicators are scored from 1 and 0 per hub and 1 being the top score.

In the live dimension, Singapore scored 0.75 for urban prosperity, and 0.69 for talent and governance. These scores highlight Singapore’s constant improvement in standard of living, aided by commercial and industrial growth as well as its safety-conscious living environment.

Christine Li, head of research at Knight Frank Asia-Pacific, notes that the fabric and structure of cities around the world have changed due to the outbreak and changing demand drivers. “The most prosperous city has been run by strong leadership and swift actions to stop the spread of the spread of the virus. This has boosted confidence, enhanced their reputation as safe havens and pushed them into the forefront of global business and the elite of the world and transforming global capital flows. For Asia, Singapore has claimed this title,” she says.

Leonard Tay, head of research at Knight Frank Singapore, adds that Singapore has recovered from the epidemic with its status as a safe haven boosted. “Singapore is an exceptional global financial and wealth management hub, characterized by stability in the political system and a business-friendly government. This makes it an ideal location for companies and investors looking to take advantage of the enormous growth potential of Asia.”