Singapore ranks 6th among world's top hubs for next generation wealth, ahead of Hong Kong

Singapore has secured the 6th spot among the world's top hubs for next-generation wealth, outperforming Hong Kong, according to Savills' Next Generation Wealth Hubs Index. The ranking considers various factors such as business networks, governance, connectivity, wealth management, and lifestyle.

Next-generation wealth refers to individuals under 40 with a net worth of $5 million or more who have recently amassed or inherited their fortune. Singapore's strategic position as a regional technology and private capital hub, coupled with its well-established financial infrastructure and regional connectivity, makes it an attractive destination for wealth preservation and intergenerational planning.

Hong Kong, while sharing similar advantages with Singapore, continues to be a leading hub for wealth preservation and family offices in Asia. With low taxation, financial sophistication, safety, and connectivity, Hong Kong's position in the global top 30 rankings includes cities like Tokyo, Shanghai, Bangkok, and Kuala Lumpur.

Emerging hubs in Southeast Asia, such as Bangkok, Kuala Lumpur, and Ho Chi Minh City, are gaining prominence due to their improving infrastructure and growing luxury sectors. Globally, New York leads the ranking, followed by Miami, London, San Francisco, and Los Angeles.

The report predicts that approximately $84 trillion will change hands between generations over the next two decades. As younger generations become more global and place greater importance on lifestyle, education, wellness, and personal values, the wealth landscape in the Asia-Pacific region is being shaped by the interplay between new wealth creation and family-led capital planning.

Established hubs like Singapore and Hong Kong are focusing on wealth structuring, private banking, family offices, and regional connectivity in response to this evolving landscape.