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Singapore to Be Asia’s Millionaire Capital by 2030, HSBC Says

Crowds by the Merlion and Marina Bay Sands in Singapore. 

Crowds by the Merlion and Marina Bay Sands in Singapore. 

Photographer: Lauryn Ishak/Bloomberg

Singapore will overtake Australia to have Asia’s highest share of millionaires in the adult population by 2030, according to a report by HSBC Holdings Plc. 

The financial hub is expected to top the list in Asia-Pacific followed by Australia, Hong Kong and Taiwan, the bank wrote in a report Tuesday. The proportion of millionaires in those four places is also expected to come in higher than the US by the end of the decade, the report said.