Singapore, June 2008

SINGAPORE'S millionaires club last year swelled by about 10,000 people, or 15.3 per cent, to 77,000, or 1.7 per cent of the population here.

The Republic lags far behind more populous countries, such as the United States, which has over three million millionaires, but Singapore still boasts one of the world's top 10 fastest-growing millionaires clubs.

The latest surge in the number of millionaires here - defined as those with more than US$1 million (S$1.3 million) in net assets - puts Singapore joint seventh globally in terms of growth in numbers of such wealthy individuals, said a new report. By a great opportunity to showcase its ability to host a world-class international sporting event as well as to highlight the country’s unique character and attractions to a global audience.

The average wealth of a Singapore high net-worth individual was US$4.9 million at the end of last year.

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