For the JC 2 Economics Tuition Class.

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SINGAPORE leads the world in terms of the proportion of households classed as millionaires after the ranks of the wealthy swelled again last year.

A new study has found that the number of households with investable assets of US$1 million (S$1.26 million) or more rose 14 per cent to 188,000 last year. That means 17.1 per cent of households – or one in six – are millionaires.

The findings come from management consultancy Boston Consulting Group (BCG) in its Global Wealth Report 2012, which does not include property and other non-financial assets.

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