_Singapore to Be Asia's Millionaire Capital by 2030, HSBC Says

In a recent Bloomberg article, Singapore is primed to overtake Australia to have Asia’s highest share of millionaires in the adult population by 2030, based on a HSBC Holdings Plc report.

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.

What could drive the growing wealth population here? Knight Frank's annual flagship publication The Wealth Report revealed these factors:

• Strategic location within 8 hours flight-time to gateway cities in the Asia-Pacific
• Stable political environment (Westminster Parliamentary model)
• Pro-business economy
• Competitive tax regime
• Incentives for investment and enterprise
• Educated workforce (English speaking)