Singapore's household financial assets per capita up 8.9% to $146,000 in 2017
It placed next to Japan's per capita financial assets of $147,000.
Singapore’s per capita financial assets hit $145,516 (EUR90,650) in 2017 which is an 8.9% YOY growth, the Allianz Global Wealth Report noted. The figures made the Lion City clinch the seventh place amongst global net financial assets per capita.
The Lion City placed next to Japan's per capita financial assets of $147, 683.93 (EUR92,000). Switzerland topped the rankings with its net financial assets per capita of $279,299 (EUR173,990).
Meanwhile, the city-state’s gross financial assets per capita hit $202,198 (EUR125,960), placing the country on the eighth place. By end 2017, Singapore’s gross financial assets of private households reached $1.154t (EUR719b).
The report noted that gross financial assets per capita in Singapore is 108 times higher than neighbouring country Indonesia, as each of the 5.7 million inhabitants of Singapore theoretically held assets worth $202,198.
“Singapore was thus not only the wealthiest country in Asia in terms of its inhabitants‘ gross financial assets per capita, but also ranked amongst the ten richest countries worldwide,” the report said.
The study noted that the comparison between Singapore and Indonesia is evidence that the gap between the richest and the poorest country was wider in Asia than in any other region of the world.