Published:
Singapore's offshore assets to rise 8% until 2021
It is keeping up with Switzerland in attracting foreign wealth.
Bloomberg Markets reported that Singapore and Hong Kong will attract wealth from abroad at more than twice the pace of Switzerland over the next four years as Asia’s economic expansion draws cash from millionaires.
Citing Boston Consulting Group, the report said perceptions that Singapore is safe and stable will also help to bring money to the Southeast Asian nation, according to BCG, which sees offshore assets there rising at a compound annual average rate of 8% through 2021. Hong Kong’s will climb 7%, more than Switzerland’s 3%.
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