The bank polled 3,000 entrepreneurs across 15 markets in its Global Entrepreneurial Wealth Report for 2025
[SINGAPORE] The Republic is ranked the top choice for entrepreneurs moving their wealth and for personal relocation, HSBC says.
In the bank’s Global Entrepreneurial Wealth Report 2025 released on Monday (Sep 29), 15 per cent of entrepreneurs cited Singapore as the top destination for their wealth, ahead of the United Kingdom and Switzerland (11 per cent each).
Singapore was also ranked the No 1 destination for personal relocation by 12 per cent of the respondents.
Nearly three in five of the 3,000 entrepreneurs polled across 15 markets said they were diversifying their wealth internationally, and over half were considering personal moves abroad. Just under half said they were also planning to expand their businesses to new markets.
“Singapore’s role as a trusted hub for entrepreneurs and wealth continues to strengthen, driven by its position as a gateway for Asia and a centre of international connectivity,” said Tommy Leung, HSBC’s head of global private banking in South Asia.
In Singapore itself, only one in five are considering moving their wealth elsewhere. Entrepreneurs in Singapore also rank bottom for contemplating a personal move abroad.
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“Singapore’s attractiveness to other regional entrepreneurs appears to be keeping its own entrepreneurs rooted at home too,” said the report.
As many as 63 per cent of Singapore-based entrepreneurs also live across multiple markets, above the global average of 56 per cent, which HSBC said “underscores the city-state’s international reach”.
The Republic also attracted the largest inflows of wealth from its neighbours, especially Indonesia and Malaysia, said HSBC.
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A sense of optimism seems to be fuelling the expansion of entrepreneurial wealth in Singapore, added the report, with 95 per cent expecting their wealth to grow – above the global average of 90 per cent.
Nearly every Singapore-based entrepreneur polled was also positive about their business outlook, with 66 per cent citing tech or AI as top factors driving positivity for their business prospects
Looking to the future
Almost half of the Singapore entrepreneurs polled said they were “concerned” about how to structure a business transfer or succession plan, with 43 per cent citing family discussions as a challenge.
The report also found that Singapore entrepreneurs are more likely to use their wealth to invest in their own business and hold cash, compared with business owners globally. They are also likelier to invest across a “diverse” asset mix, with life insurance, private assets and property among the most common asset classes.
Nearly two-thirds of Singapore entrepreneurs also said they spent their money on luxury travel, while 59 per cent spent on high-end fashion and jewelry and 56 per cent spent on cars. The number spending on fine wines and rare vintages was also more than double than the global average, which was at 26 per cent.
