Merrill Lynch, one of the world's leading wealth management, capital markets and advisory companies, released Asia-Pacific Wealth Report on 10 October 2006. It estimates that there are 55,000 people in Singapore who each have net assets above US$ 1 million mark.
With this, Singapore has a concentration of 1.48 percent of its adult population, far higher than the global average of 0.22 percent and Asia's average of 0.1 percent.
In the Asia-Pacific region, Japan has 1.4 million millionaires but it has concentration of 1.29 percent.
More details, you can grab the report. Please click here.
We believe with our good kiasu spirit, the percentage will be maintained and even growing to be higher.
Kiasu to be wealthy? Why not?