Singapore’s affluent Gen Z look beyond borders to build wealth: HSBC Report
Based on a survey conducted between January and February 2026 of nearly 10,000 affluent and high-net-worth investors across 10 markets, the report finds that more than half of affluent Gen Z in Singapore prefer investment exposure outside their home market (55 per cent), exceeding the broader affluent segment in Singapore (50 per cent) and the global affluent Gen Z average (49 per cent).
Their financial objectives indicate a strong focus on wealth creation, with 58 per cent prioritising building wealth for financial security and 51 per cent focused on creating additional income streams. However, Gen Z investors’ confidence in their ability to meet these objectives has declined across short-, medium-, and long-term horizons compared with a year earlier, at the time of the survey.
The sharpest fall was seen in medium-term confidence, which dropped from 73 per cent to 48 per cent, significantly below the broader affluent segment in Singapore (63 per cent) and the global affluent average (76 per cent). Top financial goals for affluent Gen Z in the medium-term include building wealth to buffer against inflation (20 per cent) and supporting their family (18 per cent).
Gen Z investors also maintain diversified portfolios, with fixed income accounting for 19 per cent of average portfolio allocations, followed by cash and cash equivalents (18 per cent) and equities (16 per cent). Looking ahead on a product basis, affluent Gen Z survey respondents said they would most likely increase ownership of insurance (+21 pts), stocks (+19 pts) and bonds (+19 pts) in the 12 months following the survey.
Overall confidence remains high, but planning gaps persistBeyond Gen Z, overall Singapore investor confidence in achieving short-term financial goals rose to 78 per cent, up from 71 per cent a year ago, while confidence in achieving medium-term and long-term goals increased to 63 per cent (from 61 per cent) and 65 per cent (from 64 per cent) respectively.
Across the broader Singapore market, investors remain focused on longer-term financial objectives. Preparing for retirement (51 per cent), preserving and protecting wealth (49 per cent), and building wealth for financial security (45 per cent) rank among the top financial priorities. However, planning gaps remain, with only 20 per cent currently using retirement planning services and just 9 per cent currently using wealth transfer planning services.
Overall, investors also continue to maintain diversified portfolios, with cash and cash equivalents accounting for 21 per cent of average portfolio allocations, followed by fixed income (19 per cent) and equities (16 per cent), while 37 per cent intend to increase their cash allocations. Looking ahead on a product basis, survey respondents said they would most likely increase ownership of fixed deposits (+18 pts), alternative investments (+15 pts) and gold (+14 pts) in the 12 months following the survey.
International diversification remains a key strategy, with 50 per cent of Singapore investors seeking investment exposure outside their home market, above the global average of 47 per cent.
Ashmita Acharya, Head of International Wealth and Premier Banking, HSBC Singapore, said: “The findings suggest that Singapore’s affluent investors are well diversified and willing to broaden their horizons for the right opportunities. But while overall confidence is high, persistent planning gaps indicate that translating intentions into actionable plans remains a key challenge. As portfolios become increasingly complex and internationally connected, there is a clear need for more holistic and integrated wealth planning that can meet specific goals while balancing risk across markets, asset classes and life stages.”
Media Enquiries
Carol Chan carol.a.chan@hsbc.com.sg
Urvashi Raizada urvashi.raizada@hsbc.com.sg
About the HSBC Global Affluent Investor Snapshot
The findings are based on research conducted by Ipsos Asia Limited on behalf of HSBC among 9,993 investors aged 21 – 69. Respondents include affluent investors (with minimum investable assets of USD100,000) and high-net-worth investors (with minimum investable assets of USD2 million). The online research was conducted from 6 January to 6 February 2026 across 10 markets, including mainland China, Hong Kong, India, Malaysia, Mexico, Singapore, Taiwan, the UAE, the UK and the US.
Read the full report here.
Note to Editors
- For the purposes of this study, respondents were grouped into the following generations: Gen Z (aged 21 – 29), Millennials (aged 30 – 45), Gen X (aged 46 – 61) and Baby Boomers (aged 62 – 69).
- “Pts” refers to percentage points, representing the change in the proportion of investors who currently hold, and intend to hold, a particular product or asset class over the next 12 months following the survey.
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,306bn at 31 March 2026, HSBC is one of the world’s largest banking and financial services organisations. HSBC opened its first branch in Singapore in 1877 and is a qualifying full bank serving global wealth and corporate and institutional banking customers.