HSBC Report: Singapore consolidates position as top global hub for entrepreneurial wealth and relocation

Globally, entrepreneurs are seizing opportunities and deepening international wealth corridors as globalisation enters a new phase. The report finds a decisive shift in cross-border wealth flows, with nearly three in five (59%) diversifying wealth internationally, more than half (57%) considering a personal move abroad, and almost half (49%) planning to expand their business into new markets. Despite ongoing market volatility, 94% of business owners are optimistic about their prospects and 90% expect their personal wealth to grow, with technology – particularly advancements in AI – cited as a key driver of confidence.

Against this backdrop, Singapore stands out as a clear leader. The study shows that Singapore leads globally as the top destination for entrepreneurs moving wealth (15%), outpacing traditional centres such as the UK and Switzerland (11% each). It is also the most popular choice for personal relocation (12%), reflecting confidence in Singapore’s stability, connectivity and quality of life.

• Singapore attracts the largest inflows from its neighbours, particularly Indonesia (47%) and Malaysia (38%), reinforcing its role as the role as the regional gateway for wealth.
• Nearly two-thirds (63%) of Singapore’s entrepreneurs live across multiple markets, above the global average (56%), underscoring the city-state’s international reach.

Optimism fuelling expansion

Entrepreneurs in Singapore remain highly positive about their future:

• 95% expect their personal wealth to grow, above global confidence (90%).
• 97% are positive about their business outlook, citing opportunities in new markets, performance of their business, and technology advancements.
• 41% of Singapore entrepreneurs view advancements in AI as a key driver of business growth, in line with the global average, showing how innovation is shaping entrepreneurial strategies here.

Preparing for the future

Singapore entrepreneurs are also looking ahead to protect and grow their legacies:

• Succession planning remains front of mind: 49% of Singapore entrepreneurs are concerned about how to structure a business transfer or succession plan, and 43% cite navigating family discussions as a challenge.
• They are investing across a diverse mix of assets, with life insurance, property and private assets among the most common holdings.

Singaporean entrepreneurs also stand out for their discretionary spending, with nearly two-thirds (61%) spending on luxury travel, 59% on high-end fashion and jewellery, and 56% on cars. They are also twice as likely to invest in fine wines and rare vintages, with 53% doing so compared with a global average of 26%.

“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. Entrepreneurs here are optimistic and ambitious – expanding their businesses across borders, moving their wealth internationally, and planning for the future. At HSBC, we are committed to supporting them across the full continuum of their journey, from growing and protecting their businesses, to managing family wealth and securing lasting legacies. With our global network and local expertise, we are uniquely positioned to help entrepreneurial families navigate opportunities and challenges in this new era,” said Tommy Leung, Head of Global Private Banking, South Asia, HSBC.