Hong Kong’s millionaires stay ahead of those in Singapore

Hong Kong will continue to stay ahead of Singapore in terms of its number of millionaires and the assets they hold, according to a recent report by London-based market research firm Datamonitor.

The number of Hong Kong millionaires will increase by 8.8% annually to 83,000 in 2011 from 51,000 in 2006. In Singapore, that number will increase by 7.3% annually to 29,000 millionaires in 2011 from 19,000 in 2006.

Assets held by Hong Kong’s millionaires are expected to expand by an average of 11% annually to nearly $250 billion from $150 billion over the same period, while those ...