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The battle of the wealth hubs: Singapore, Dubai and Hong Kong

Asian financial hubs emerge as strong contenders in a global wealth migration wave

Tessa Oh
Tan Nai Lun

Tessa Oh &

Tan Nai Lun

Published Mon, Dec 23, 2024 · 05:00 AM
    • The Business Times lays out the opportunities presented by the three hubs – Singapore, Dubai and Hong Kong – and the type of wealth flows they attract.
    • The Business Times lays out the opportunities presented by the three hubs – Singapore, Dubai and Hong Kong – and the type of wealth flows they attract. PHOTO: BT FILE, AFP

    WEALTH is moving around the world at an unprecedented rate, and three of Asia’s prominent wealth hubs are actively vying for a slice of this pie.

    Migration consultancy Henley & Partners expects 128,000 millionaires to relocate in 2024, eclipsing the previous record of 120,000 in 2023.

    “This year is shaping up to be a watershed moment in the global migration of wealth,” said Dominic Volek, its group head of private clients.

    Wealth managementFamily officesSingaporeHong KongDubaiPrivate wealthTax incentivesOutlook 2025

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