I always cozy up to surveys because they’re a part of economics that I didn’t quite enjoy in school times, but now it is more than just interesting as it gives me a peek into the super-rich minds. Citibank and Knight Frank have just compiled a lengthy analysis based partly on interviews with the super-rich- Individuals with $25 million or more in investable assets. The survey predicts that Singapore will be the richest nation by 2050, a fact we can hardly dispute considering that it is swarmed with dynamic projects such as the first 7 star VIP cable cars with Swarovski crystals and the world’s first apartment fully decorated by Hermes. Although the progress can be slated on micro-economics, the macro isn’t a very dull picture either as Singapore is also the ninth most expensive city to live in, according to a survey.
The list of top five countries in terms of GDP and purchasing power in 2012 starts with the U.S in the 5th position, South Korea in the 4th, Taiwan on no3, Hong Kong on no2, and Singapore top the list. Singapore happens to be the top GDP per capita city with a figure of more than $56,000. When posed the question about “favorite things,” Singaporean high net worth individuals replied with “Books and reading materials.” Now we know exactly why they’re so rich; they spend negligible and invent the whole!
[CNBC and Yahoo]