SINGAPORE: A report says that Singapore is Asia’s top wealth magnet. While millionaires in other nations have staged an exodus and moved elsewhere, Singapore is a country where the number of millionaires has grown steadily over the years.
The Henley & Partners Private Wealth Migration Report showed that the number of high-net-worth individuals (HNWIs) who moved to the Little Red Dot actually decreased from 3,500 in 2024 to 1,600 in 2025, though the city-state is still considered to be a desirable home for millionaires.
Over the past decade, Singapore has seen a substantial 62% millionaire growth, and its new millionaires reportedly brought in USD8.9 billion (SGD11.45 billion).
“Among Asian recipients of millionaire inflows, Singapore continues to punch well above its weight… The reasons are clear and compelling: a stable political environment, a sophisticated and well-regulated financial sector, attractive tax policies, and a high standard of living. In a world where uncertainty seems to be the only constant, Singapore’s predictability is gold.
