Singapore is rapidly growing as a financial and trading hub, and now has its sights set on replacing Hong Kong as the region’s number one.
It still has a way to go. Hong Kong boasts more than twice the number of billionaires, three times as many banking assets, double the value of total assets under management and commands rents at twice the levels as Singapore.
But the two centres combined are expected to overtake Switzerland in wealth management by next year, according to the Boston Consulting Group.
Financial Times, 19
Singapore is rapidly growing as a financial and trading hub, and now has its sights set on replacing Hong Kong as the region’s number one.
It still has a way to go. Hong Kong boasts more than twice the number of billionaires, three times as many banking assets, double the value of total assets under management and commands rents at twice the levels as Singapore.
But the two centres combined are expected to overtake Switzerland in wealth management by next year, according to the Boston Consulting Group.
Financial Times, 19
