Singapore's wealth per adult is the ninth highest globally

It surpassed Hong Kong, which ranked ahead in 2000.

Singapore is the top ninth in the world in terms of household wealth per adult, as average wealth rose from US$115,560 in 2000 to US$268,800, Credit Suisse Research revealed.

According to its Institute Global Wealth Report, the rise was mostly caused by high savings, asset price increases, and a favourable rising exchange rate from 2005 to 2012.

It surpassed Hong Kong, which ranked ahead in 2000.

Singapore also recorded median wealth per adult of US$108,900.

Considered as one of the high-income Asian countries, Singapore is part of the top 20 countries in terms of ultra-high net worth (UNHW) individuals.

About 4% of the world total can be found in Taiwan, India, Hong Kong and Singapore.

Here's more from Credit Suisse:

Personal wealth per adult grew strongly in Singapore up to 2012. Since then it has risen slowly in domestic currency units and declined a little in terms of US dollars.

Financial assets make up 56% of the gross household wealth in Singapore, a ratio similar to that of Switzerland, for example. The average debt of US$50,570 is moderate for a high-wealth country, equaling just 16% of total assets. Singapore publishes household sector balance sheet data, which means that wealth information is more reliable than for most of its neighbours in Southeast Asia.

Wealth distribution in Singapore is only moderately unequal. Just 22% of its people have wealth below USD 10,000, compared with 70% globally.

The fraction with wealth above US$100,000 is six times the world average.

Reflecting its very high average wealth, 0.4% of its adults, or 213,000 individuals, are in the top 1% of global wealth holders, which is a high number given that it has just 0.1% of the world’s adult population.

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