Singapore has emerged as the top destination for corporate relocations, according to the latest Savills Dynamic Wealth Indices. The city-state’s favourable corporate tax environment, robust business infrastructure, and significant foreign direct investment volumes have propelled it to the forefront, surpassing Seoul, New York, London, and Abu Dhabi. Meanwhile, for individuals considering relocation, Singapore ranks third, following Dubai and Abu Dhabi, due to its appealing personal tax incentives and high quality of life.
The indices highlight the evolving landscape of global wealth flows, influenced by geopolitical shifts and economic changes. Paul Tostevin, Director of Savills World Research, noted, “Traditional predictors of global wealth flows, such as government policies, taxes and incentives, and the presence of either innovative talent pools or existing communities of similar individuals, have always been key drivers of dynamic footloose companies and individuals.”
Ashley Swan, Executive Director of Commercial & Industrial at Savills Singapore, emphasised the city’s business-friendly environment, stating, “The results of the indices endorse Singapore’s standing among corporates and illustrate the overall business-friendly environment, strong government policies and tax incentives.”
The report also underscores the overlap between corporate and individual priorities, with six of the top 12 locations appearing in both indices. This convergence suggests that businesses are increasingly drawn to locations that offer both a skilled workforce and a high quality of life. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, remarked on the competitive landscape for attracting high net worth individuals, asserting that Singapore remains a strong contender due to its stable environment and real estate value.
“`
