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Fortune
Fortune
Lionel Lim

Singapore is the only Southeast Asian city on a ranking of centi-millionaires—and that could be good for its economy

(Credit: Ore Huiying—Bloomberg/Getty Images)

Singapore ranks high among cities in terms of the cost of living—and it’s also very popular with rich people.

A report by Henley & Partners, using data from New World Wealth, released Tuesday ranked the city-state 6th in a list of top 50 cities for ‘centi-millionaires,’ a term used to describe individuals with liquid investable assets of $100 million or more. Henley & Partners says there are 29,350 of such individuals globally, and Singapore is home to 336 of them.

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