Singapore one of the top destinations for investment

Singapore ranks one of the top global investment destinations for wealthy entrepreneurs

Singapore continues to be one of the top destinations for wealthy investors and entrepreneurs looking to relocate or expand their businesses in Asia, according to HSBC’s latest Global Entrepreneurial Wealth Report. The city-state outranked its main rival Hong Kong in several key areas, including investor preference for asset relocation and personal migration.

The report comes from survey’s results of nearly 1,900 business owners with at least US$2 million in investable assets. It revealed that 70% of respondents are considering moving their wealth to a new location within the next 12 months. Switzerland emerged as the top choice, followed by Singapore in fourth place globally. For personal relocation, Singapore stood as the most preferred destination, ahead of major global hubs like Switzerland, the United States and the United Kingdom. Meanwhile, Hong Kong did not make the top 10 for personal relocation.

Singapore’s appeal extends beyond wealth management, as 9% of respondents identified it as their preferred location for conducting business, compared to 7% for Hong Kong. In terms of investment destinations, 8% of entrepreneurs favored Singapore, surpassing Hong Kong’s 6%.

The competition between Hong Kong and Singapore remains fierce, with both financial centers managing assets worth around US$4 trillion. However, recent market volatility in mainland China and concerns over U.S.-China trade relations may have dampened investor confidence in Hong Kong. Meanwhile, Singapore’s regulatory environment, though sometimes stringent, continues to draw interest for its consistency and business-friendly policies.

Despite facing challenges earlier this year due to regulatory adjustments, Singapore remains a resilient and appealing choice for entrepreneurs seeking stability and growth opportunities. This preference is particularly significant given the broader economic optimism among respondents; nearly 90% expressed confidence that their business prospects and personal wealth would improve in the coming years.