Singapore is the city with the second most number of millionaires in the world, according to a recent study

Surprise, surprise – a recent study reveals that Singapore has the second-highest concentration of millionaires in the world. Yes, our tiny island of 5.6 million people is home to a whopping 244,800 millionaires. That’s about 4,305 millionaires per 100,000 people, and 4.31 percent of our population. 

This might not come as a shocker to many, since the country has made headlines many times in this area. This year, we were named the second-most expensive city in the world for expats, and last year, we were found to be the world’s most expensive city for the ninth time in eleven years – a contest we never signed up for, but won anyway. 

The study, done by Prime Casino from the United Kingdom, dives into wealth data from across the globe to determine which cities and countries house the most millionaires. And leading the charge is Zurich, with around 88,400 of its small 434,000 population being millionaires. To do the math, that’s one fifth or 20 percent of the city’s population.

The study also delves into statistics like average salaries and working hours to determine where in the world you can achieve your millionaire dreams the quickest. And coming out on top again is Zurich, where it’s estimated that it would take 540 weeks or 10 years for the average person in Zurich to become a millionaire. 

Now, apparently, Singapore doesn’t fall too far behind. In fact, we’re the fourth city on this list after New York and London, considering our average yearly salary of almost $54,000 after tax. It’ll just take the average Singaporean about 964 weeks, or 18.5 years for that to happen.

Here are the 10 cities in the world with the most millionaires:

1. Zurich, Switzerland 
2. Singapore
3. Dublin, Ireland
4. Amsterdam, Netherlands
5. Sydney, Australia
6. London, United Kingdom
7. Tokyo, Japan
8. Hong Kong
9. New York City, USA
10. Vienna, Austria

And here are the 10 countries in the world with the most millionaires: 

1. Switzerland
2. Australia 
3. United States
4. Netherlands
5. Canada
6. Belgium
7. Sweden
8. France
9. United Kingdom 
10. Germany

Check out the full report here. 

Running on a tighter budget recently? Find out the best free things to do in Singapore and the best cheap eats in the city. 

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