Singapore is third-best country to relocate to and build family wealth, says report - The Straits Times

Singapore ranked third in the study of 27 countries on where families can relocate to earn more. PHOTO: ST FILE

LONDON - The best country in which to build multi-generational wealth is Switzerland.

The Alpine nation offers the best opportunities in the world for families looking to relocate and access the highest earnings and best career prospects for themselves and their children, according to a new index by citizenship advisory firm Henley & Partners.

The United States came in second, while Singapore was third.

Switzerland has a 2 per cent unemployment rate and is home to seven of the world’s top 250 universities, according to the research, making it a premium destination for families looking to build wealth and ensure good careers for their children.

The US also provides great employment prospects and unparalleled education, with 46 of the world’s top universities.

Meanwhile, Singapore is at the heart of a growing economic region, with plenty of opportunities in banking and engineering as well as easy-to-navigate visas.

The study examined education, earning potential, career advancement, livability, economic mobility and job prospects across 27 countries to establish “opportunity scores” for families looking to move and earn more.

The ranking found that a typical Indonesian family whose score sits at 25 per cent in their home country could raise their probability of success for the next generation to 82 per cent by accessing residence rights in the US.

Similarly, an Indian family with a score of 32 per cent relocating to Switzerland would increase their advantage to 85 per cent.

“Income variation globally is largely attributable to which country people live and work in,” said Henley & Partners Education director Tess Wilkinson. “Picking the right country is key to ensuring multi-generational wealth.” BLOOMBERG

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2024-02-13 23:56:00Z
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