According to HSBC’s Global Entrepreneurial Wealth Report, Singapore is the world’s most attractive destination for entrepreneurial wealth with 15% of respondents favouring the city state over the UK and Switzerland at 11% each.
It is also the top destination for personal location in 2025 at 12%, thanks to entrepreneur confidence in the nation’s stability, connectivity and quality of life.
Singapore is also a key hub in Southeast Asia, attracting large inflows from Indonesia at 47% and Malaysia at 38%, a testament to its role as the region’s gateway for wealth. Singapore’s entrepreneurs are meanwhile not limited to locality, with 63% living across multiple markets, beating the global average of 56%.
They are also optimistic about their future. A whopping 95% expect their personal wealth to grow, again inching above the global average of 90%, while 97% of Singapore entrepreneurs are positive on their business outlook, citing performance business opportunities such as technology advancements and consumer trends.
Artificial intelligence (AI) in particular continues to be a feature of business growth, with slightly under half of Singapore entrepreneurs at 41% seeing advancements in the space as key in shaping entrepreneurial strategies.
As per the report, Singapore entrepreneurs are also not sitting on looking for succession. Half or 49% have indicated a concern over business transfer or succession with plans, with 43% pointing to navigating family discussions as a key hurdle.
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With this, entrepreneurs from the city state are more likely to hold on to cash and utilise their wealth to invest in their own businesses than their global peers. Singapore business owners are also more diversified, with life insurance, private assets and property among their most common holdings.
Due to their stronger financial position as compared to the rest of the world, Singapore entrepreneurs stand out for their spending, with 61% spending on luxury travel, 59% on high-end fashion and jewellery and 56% on cars. They are also twice as likely to invest in fine wines and rare vintages, with 53% doing so compared to the global average of 28%.
On a global basis, nearly three in five of entrepreneurs or 59% are diversifying their wealth internationally, with 57% considering a personal move abroad and 49% planning to push their business into new markets. Despite the ongoing market volatility, 94% of global business owners are optimistic about their prospects while 90% expect a growth in personal wealth, with the ongoing advancement in AI as a factor of confidence.
Head of global private banking, South Asia, Tommy Leung says: “Singapore’s role as a trusted hub for entrepreneurs and wealth continues to strengthen, driven by its position as a gateway for Asia and a centre of international connectivity. Entrepreneurs in Singapore and the broader Asean region are optimistic and ambitious — expanding their businesses across borders, moving their wealth internationally and planning for the future.”
