By 2020 the world’s wealthy will have moved most of their private banking activity from Switzerland to Singapore, according to research group WealthInsight.
And of course, they’ll need people to manage that money.
The country couldn’t be more ready. It’s becoming a hub for Asia’s rich. In fact, Boston Consulting Group recently named Singapore the country with the world’s densest population of millionaires — 17 per cent of all households, to be exact.
To serve that population, Singapore has built an infrastructure of high end shopping, hotels, and nightlife.
So if you’ve got the cash, there’s plenty of room for you to play (and work) too.
Singapore is the best country in the world for doing business, according to a report released earlier this year by the World Bank. Here's why:
- It takes, on average, three days to open a business.
- Trade is open and competitive: there are no tariffs on imports and foreign and domestic business are regulated equally.
- Unemployment is only 2.1%
Take Silicon Valley-transplant, and Bubble Motion CEO, Tom Clayton, who moved his start-up to Singapore after 2008's economic downturn.
He told Business Insider that working in Singapore gave him great access to the nearby mobile markets of Indonesia, India and Asia (three of Asia's biggest).
'We can take day trips or red-eyes to all of our core markets,' said Clayton.
Goldman Sachs, Morgan Stanley, Citigroup, Deutsche and JP Morgan (to name a few) have already set up shop in the tiny nation-state.
Goldman even reportedly fired American workers last year so the firm could add 1,000 workers to its Singapore office, and has been moving workers from Tokyo to Singapore since the start of the financial crisis.
According to Propwise, a Singapore real estate guide, here are your rental options:
Landed property (terrace houses, attached houses, bungalows) will run you between $7,800 and $23,430 USD per month.
High-rise buildings (room rentals, apartments, condos and penthouses) can be more affordable, starting as low as 800 USD (for single rooms) and going as high as 25,000 USD per month, for the more upscale condos.
The most stunning way to spend your time is possibly at an infinity pool in the sky.
The pool, at 55 stories high, is the largest in the world at its height.
Find it at the Marina Bay Sands Hotel.
Source: Asia One
Louis Vuitton's new concept store 'Island Maison,' replete with a bookstore, art gallery and, of course, a Louis Vuitton store.
The event is a 10 day blow out started in 2010.
Known colloquially as 'Grand Prix Season,' the week leading up to the race is full of parties, concerts, and race themed shopping and dining.
Singapore has only allowed gambling for three years.
There are two main hotspots: Marina Bay Sands (which is the most expensive standalone casino in the world, valued at $8 billion) and Resorts World Sentosa.
Last year they pulled in $5.9 billion compared to the $6.3 billion made by all the casinos in Las Vegas.
One of Singapore's hottest Western imports, Pangaea (which brings in, on average, $121,000/night), has couches lined with gold python skin.
Then there's St. James Power Station, housed in Singapore's first coal-fired power plant, which boasts 11 distinct clubs and entertainment venues.
Source: Wall Street Journal
Five star resorts, white sand beaches and world-class dining all at your fingertips.
If just kicking it on the beach isn't your thing, you can visit the awesome nature preserve, Chek Jawa
Chek Jawa, a cape on Singapore's northeastern coast known for its rich biodiversity (it has six separate ecosystems), was publicly uncovered in 2000 and has since been a favourite destination for Singaporeans.
That's six ecosystems just minutes from the hustle and bustle of downtown.
Even though Singapore's flashy living may remind you of something out of a crime novel, it's actually really safe.
The crime rate--one of the lowest in the world--is only 660 for every 100,000 residents.