An IMGW News Report
A growing number of Singapore’s high-net-worth individuals (HNWIs) are contemplating a move abroad, with younger and wealthier cohorts leading the charge, according to a study by Agility Research & Strategy, a Singapore-based consultancy specialising in affluent consumer insights.
The report reveals that over half of HNWIs in Singapore are exploring relocation, particularly those under 45 and those classified as very high-net-worth (VHNW). While financial considerations play a role, broader motivations include a desire for new cultural experiences, lifestyle shifts, and professional opportunities.
Education remains a key driver of mobility. Though 40% of HNWIs opt for local universities for their children, the majority—60%—intend to send them overseas, with the United Kingdom emerging as the preferred destination.
Wealth preservation and succession planning continue to be top priorities. Some 28% of HNWIs have already established legal trusts to ensure a seamless transfer of assets. Over the next decade, a significant wealth transition is expected, with one in three poised to inherit substantial fortunes.
The next generation of affluent Singaporeans appears more proactive in wealth creation. Many inheritors plan to expand business ventures and diversify financial portfolios, signalling a shift towards strategic asset growth.
Philanthropy is also gaining prominence. The report highlights healthcare access and education as key areas of social investment among Singapore’s wealthy, reflecting an increasing emphasis on responsible wealth deployment.
As Singapore’s elite recalibrate their priorities, their growing international outlook could reshape investment flows and influence the global wealth landscape.
