The World's Richest City

The World's Richest City

2013, Economics  -   19 Comments
Ratings: 6.87/10 from 60 users.

Singapore is a playground for the mega rich; the place to park their wealth. As people get more affluent, they want to look at more luxury items, better homes, better cars, and better yachts. Billionaires, tycoons and big foreign firms are drawn there by the low taxes, stable government and protected banking lords that keep their accounts secret. Singapore will be the location where people custody their assets. But with the rising costs of living, many Singaporeans are struggling.

They have one of the most expensive public housing in the world. The core issue is that Singaporeans are finding it increasingly difficult to compete for jobs. So, who really benefits from living in the world's richest city?

Truly, Singapore is becoming one of the most important hubs. There are a lot of new clients, entrepreneurs and high-net worth individuals, which are just now thinking that a boat, a yacht, can be part of their luxury living. Forget jets and limos if you want to travel in style. The dazzling array of super-yachts are the draw cards, here. They can even be charted for a cool $50,000 a week.

This provides you a platform to have the time of your life. People are now becoming more aware of their surroundings, and who would argue that Southeast Asia has some of the most beautiful coastlines in the world. Asia is now developing into the next level of pursuing more leisured expectations. It's probably a current continent where people are getting wealthier. Singapore is positioned as a fun place to be, also where business converge.

Many Ritzy events are part of Singapore's dramatic makeover, from colonial backwater to economic powerhouse in just 50 years. By throwing the doors open to super-rich foreigners, the country now manages 5% of the world's total private wealth, making Singapore the world's wealthiest city based on per-capita income.

It is very clear that the efficiency part, the clarity that the government leaders have set, positioned Singapore as the premier hub for everything to happen there. Relative to the size compared to India and China, they play a very strategic role to be the jewel in the market.

Some of the wealthy tycoons with a presence in Singapore include Facebook Founder, Eduardo Saverin; Australian Mining Magnet, Gina Rinehart; Malaysian Entrepreneur, Ong Beng Seng; and prominent US Investor, Jim Rogers.

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5 years ago

I still don't see the level of poverty that you see even in Western countries, nevermind the rest of Asia and most of Africa. Lot of entitled complaining going on here.

And if Western people protested say, rich Chinese, descending upon their cities (as they already are), it would be called 'racism'.

5 years ago

Six children? No job? Come on. You don't get to complain about being poor if you can't stop raping your wife and forcing her to have more and more children.

6 years ago

Admire the fellow who was solving problems in his community/bldg by forming their own group. As the founders of the usa knew, govt IS the problem, not the solution, and why they set out to form a LIMITED govt. Look what the govt people did to that. There is no end to vote buying or what people desire others to pay for.

Adequate paying jobs are what is needed, rather than increasing taxes to increase the size and consumption of govt in the maintenance of itself. Workfare as a safety net is a much better way than paying people to do nothing. It doesn't take long for the incentive to work to disappear.

A major contributing problem is that of how people perceive value. And that relates to ego. Most don't think they get paid enough for what they do, while balking at the price others charge for their services. For instance, the huge usa energy administration, as well as many others, could be abolished with minimal if any impact. However, I would value the farmer who produces high quality, non genetically modified, non polluted/poisoned, foods. Is the person who keeps a place clean and nice less valuable than most in govt? Why are those who are corrupt paid so much and those who do honest work paid so little? It is because you/we allow it rather than reevaluate and act on what we value.

8 years ago

Someone in the video said "Southeast Asia has some of the most beautiful coastlines in the world". LOL what a joke! 'Dull' would be a more appropriate word. The Californian coastline is way more beautiful.

8 years ago

Singapore is not the world's richest city. Not by a long shot.

9 years ago

what a mind numbingly dull place. Inequality seems to be spreading like a plague around the world and seems unstoppable. Death is lifes only equaliser.

9 years ago

As this doc clearly shows Singapore is a very boring place. I have lived there. Hong Kong is much more interesting. And why? Well, because Hong Kong has culture. As this doc also clearly shows you cannot buy culture.

Carl Hendershot
9 years ago

Breeding Ugly should be the title..

9 years ago

income tax is a dumb idea... tax should only be for consumption of goods, services, use of public facilities and tax on property.

9 years ago

I haven't even seen the film yet, but a concept in the title, whether intended or not, has opened my eyes a bit. I can see how in the near future, more and more wealthy people are going to completely abandon the US and Western civilized nations for nations that have balanced budgets as well as a safe, welcoming environment, full of amenities and luxuries. That leads to so many more questions regarding today's global/geo - politics...

matt van den ham
9 years ago

Eduardo Saverin isn't the founder of Facebook!