WHY SINGAPORE?
ONE OF THE MOST CONNECTED ASIAN CITIES
The island-state of Singapore is a fast growing financial and cultural economy, ideally situated within the hub of Southeast Asia. Less than a four hour flight from every other major Southeast Asian city, Singapore has excellent infrastructure which is supportive to major trade events, and access to a growing network of high net worth individuals from across the Asia Pacific region. Major event organisers such as the annual F1 Singapore Grand Prix have leveraged on these capacities to stage high profile shows targeting the ultra luxury sector.
A WEALTH CENTRE AND SAFE HAVEN
Despite its smaller population, in the past decade Singapore has witnessed one of the highest growth rates of ultra high net worth individuals (UHNWIs) in the world, as defined by personal wealth exceeding US$ 30 million (S$ 40.1 million). The UBS Billionaire Ambitions Report 2024 reported that Singapore was increasingly a location of choice for billionaires, who prioritised healthcare, education and jurisdictions where legal structures support wealth transfer.
Already positioned as a regional leader and a probusiness economy, Singapore has in recent years made particularly large investments in strengthening its foothold as a global wealth hub, most notably via tax perks that incentivise the setting up of family offices. The number of single family offices have jumped nearly threefold since 2020, largely driven by an influx of wealthy Chinese families into Singapore.
Southeast Asia is projected to be one of the top regions for ultra high net worth increase, having four out of the top twelve fastest growing UHNWI markets globally, and by 2026 Asia is projected to surpass Europe as a wealth hub with Singapore, as Southeast Asia’s gateway city and regional hub, playing home to over 6000 UHNWIs – a jump of 268% in one decade.
These above movements can be traced towards several key factors: Singapore’s safe haven reputation, the high standard of living demanded by a new generation of high-earning professionals, strong and enduring economic fundamentals, and a competitive tax regime. As a result Singapore has attracted the region’s mega-rich to have a presence, particularly from the surrounding countries of China, Indonesia, and the Philippines, who gravitate towards the stable governance, banking infrastructure, education, medical care, and general ease of access in Singapore. In addition to lifestyle, the UHNWIs are attracted to the country’s potential for investment, particularly Singapore’s commitment to supporting the rise of disruptive business models created through technology and abundant capital.
ASIA’S SILICON VALLEY
In recent years, Singapore has accelerated its growth in future innovation and technologies, through which it has acquired the reputation of Asia’s Silicon Valley.
Both the Singapore government and private venturecapitals have put significant attention into key pillars such as artificial intelligence, cybersecurity, blockchain, immersive media, augmented reality and virtual reality, which in turn are stimulating industries such as FinTech and MedTech. Singapore’s digital economy contributed $113 billion or nearly 18% to the nation’s overall GDP within 2023.
59% of global tech companies have their Asian regional headquarters in Singapore, and 80 out of the world’s top 100 leading tech firms are represented. Big Tech firms such as Alphabet, Apple, Meta Platforms, Microsoft and Amazon use the country as a springboard to chase regional growth, particularly in fast growing neighbouring economies such as Indonesia and Thailand. Foreign technology start-ups are leveraging Singapore’s brand to scale their businesses and venture overseas. Singapore also has the largest China tech cluster outside of China, including companies like Huawei, Tencent and Alibaba who are rapidly expanding their presence. Not only do these companies bring in their businesses, the wealth of their founders also follows suit, emulating how tech executives flooded into Silicon Valley in the 80s and 90s.
Singapore’s Art Scene
Singapore is home to one of the most vibrant art scenes and ecologies in Asia, with strong financial and lifestyle ties to other regional capitals such as Jakarta, Manila, Bangkok, Kuala Lumpur and Hanoi. Anchored by major visual arts museums such as the National Gallery Singapore, Singapore Art Museum, and the ArtScience Museum, there is significant institution-led outreach and encouragement to draw the general public to visual art events.
ART SG takes place within the wider context of Singapore Art Week, the city’s annual celebration of the visual arts every January. The Singapore Biennale, the most established biennale within Southeast Asia, returns from 31 October 2025 – 29 March 2026, with the theme “Pure Intention”.
