Singapore is set to welcome around 3,500 high-net-worth individuals as citizens in 2023, with the majority of them coming from China, according to a report by wealth intelligence firm New World Wealth.
These individuals have at least US$6 million in investable wealth and also hail from India, Indonesia, Malaysia, Vietnam, the Philippines and the UK.
The report also reveals that Singapore is the fifth-wealthiest city in the world in 2023, with New York retaining its position as the wealthiest city in the world. The number of resident millionaires in Singapore rose by 2,800 to 240,100 in 2022.
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