Singapore Expected to Retain its Position as the Richest Country Even in 2050
‘Wealth Report’ always makes interesting reading because its subject matter are the rich of the world. Knight Frank which is basically a property consultancy has joined hands with Citibank to come up with this wealth report. According to them people with investable assets in excess of 425 million are considered super rich and the report has been compiled after interviewing some of them to really understand their behavior and preferences. The report tracks the rich countries as well and according to its projections Singapore will be the richest in terms of per capita income in 2050. The interesting part is that the city state is the richest according to the 2010 report and it will manage to retain its top position over four decades. US Will Be the Only Non Asian Country in the Top Five The incomes are calculated on per capita GDP at purchasing power parity. In simple terms it means average income after factoring in inflation, cost of living and exchange rates. According to the re...