Wealth Over the Edge: Singapore

[lewlian]

???. Guess the gahmen got what they want when they set out to make it a fun place.

 

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$26,000 cocktails. Traffic jams freckled with Ferraris. The world's sternest city is now the richest. Why?

 

http://online.wsj.com/article/SB10001424127887324662404578334330162556670.html

[tane0019]

Very very interesting article.

 

"According to Boston Consulting Group, the island had 188,000 millionaire households in 2011—slightly more than 17 percent of its resident households—which effectively means one in six homes has disposable private wealth of at least $1 million, excluding property, business and luxury goods. Add in property, with Singapore real estate among the most expensive in the world, and this number would be even higher."

 

"A country roughly the size of San Francisco, it now has 449 Ferraris, up from 142 in 2001, while its Maserati fleet has grown from 24 to 469."

 

"Danny Quah, professor of economics and international development at the London School of Economics, has calculated that the world's economic center of gravity—measured by looking at income averages across more than 700 places worldwide—has shifted east over the past 30 years, from the Transatlantic Axis to somewhere across the Arabian Peninsula. If current growth trends continue, this center will move in another three decades to a resting point between India and China—just about where Singapore is, meaning its potential as the world's economic center may not even be fully realized.."

 

 

[c7221624705751]

alamak u all are missing the point here.

Here is what is really interesting  :P

 

"Tight-fitting Herve Leger bandage dresses are practically a uniform here, often paired with Christian Louboutin heels"

 

(for the uninitiated, google "Herve Leger bandage dress".  ;D )

[lewlian]

 

That settles it. We need paparazzi then; may those with great shots win (Local or FT).

[bigtree]

Think the numbers for Ferraris and Maseratis are understated . Should be about 475 and 572 respectively.

 

Perhaps they took out a few total lost from the calculation.

 

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