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ECONOMY | Staff Reporter, Singapore

Millionaires in Singapore increased 33%

According to Bloomberg, And there are now 12.5 million millionaires in the world; are you one of them?

Looks like getting rich is no problem for some Singaporeans, as millionaires increased by 33% in the country, according to Boston Consulting Group.

According to the report, millionaire households around the world rose by 12% to 12.5 million in 2010. And Singapore ranks number 1 with the most number of millionaires.

However, this growth is caused by recovery of equity markets, not in the generation of new wealth, said Peter Damisch, a partner based in the firm's Zurich office.

View the full report here.

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