Wealth in Singapore grew 7.4% to $1.8 tril: Credit Suisse

SINGAPORE (Oct 18): In the 12 months to mid-2018, wealth in Singapore grew strongly at 7.4% to around US$1.3 trillion ($1.8 trillion), according to Credit Suisse Research Institute’s (CSRI) Global Wealth Report.

CSRI expects wealth in Singapore to grow at 4.6% per annum over the next five years to reach about US$1.6 trillion in 2023.

According to the report, wealth per adult in Singapore increased by 5.3% to more than US$283,000, the ninth highest in the world. This represents a significant difference from 2000, as wealth per adult has increased by more than 146% since then, due to high savings, asset price increases, and a rising exchange rate from 2005 to 2012.

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