Affluent investors are increasingly looking abroad to diversify their portfolios, with Singapore emerging as the top Asian destination to open an offshore investment account, according to HSBC’s 2025 Affluent Investor Snapshot.
The global survey, which captured insights from 10,797 individuals with investable assets between USD 100,000 and USD 2 million across 12 markets, identified Singapore, the United States and Hong Kong as the top three jurisdictions globally for international wealth placement. While the United States continues to dominate cross-border allocations, Singapore’s role as a regional anchor for international investment flows appears to be strengthening.
The findings reflect shifting investor preferences in a post-pandemic environment marked by inflation pressures, monetary tightening and regional instability. Singapore’s strong regulatory credentials, financial infrastructure and political stability have contributed to its positioning as a trusted base for wealth management—particularly for clients across Asia and the Middle East.
International investing gains ground
Globally, four in 10 affluent investors plan to invest internationally over the next 12 months. That figure rises to 56% in the United Arab Emirates and 50% in Singapore, where international diversification is increasingly seen as an essential part of long-term planning rather than a discretionary strategy.
The report indicates that affluent investors across markets are no longer content with domestic-only allocations. Instead, they are seeking cross-border opportunities to hedge against volatility, access new asset classes, and support goals such as overseas education, retirement abroad or multigenerational estate planning.
In Singapore, investors appear particularly active in pursuing these opportunities. HSBC attributes this to both generational confidence and the accessibility of global platforms offered by banks and digital providers.
“It is heartening to see the next generation of affluent investors take more proactive steps in shaping their financial future with greater confidence,” said Ashmita Acharya, Head of International Wealth and Premier Banking, HSBC Singapore. “With tools like HSBC Future Planner along with our wealth advisory capabilities, we are committed to being a trusted partner at every stage of our clients’ wealth journey.”
Cash holdings decline as portfolios broaden
The report also highlights a shift in portfolio construction. Globally, cash remains the largest single allocation at 20%, but this represents a near 40% decline from 2024 as investors reduce idle balances in favour of income-generating or inflation-hedging assets.
Singapore follows the same pattern. While cash still comprises 24% of portfolios on average, it is steadily losing share to other instruments. Equities (18%) and bonds (17%) are the next largest allocations, with growing interest in alternatives such as REITs, private equity and hedge funds.
Notably, Singapore investors increased their gold and precious metals holdings by 40% year-on-year. Globally, the increase was even sharper, with allocations to gold rising 120%. This suggests heightened caution, as investors seek tangible stores of value in uncertain markets.
Alternative assets are also gaining momentum. Investors are showing greater openness to strategies traditionally associated with institutional portfolios, especially among those under 40 who are more comfortable with long-horizon or higher-risk instruments.
Confidence diverges across generations
Despite ongoing macroeconomic uncertainty, investor sentiment in Singapore remains relatively optimistic. Sixty-seven percent of respondents expressed confidence in achieving their long-term financial goals. Younger investors are particularly assured: nearly 70% of Gen Z and Millennial respondents say they feel confident, compared with 60% of Gen X and Baby Boomers.
The shift in outlook is mirrored by a change in goals. Leisure, including saving for travel or life experiences, has now overtaken financial security as the top priority for Singapore investors—cited by 47% of respondents. Retirement planning and wealth building remain close behind, at 47% and 46% respectively.
This evolution reflects a broader change in how affluent individuals define financial success. While previous generations often prioritised capital preservation and family legacy, younger investors appear more inclined to balance long-term discipline with quality-of-life aspirations.
Trusted advice remains central
Despite high digital engagement, professional financial advice remains the most influential input in wealth decision-making. In Singapore, 65% of investors say they rely on bank relationship managers and wealth specialists—slightly ahead of the global average. Stockbrokers rank second at 28%.
When gathering information, Singapore respondents favour social platforms (42%), bank digital channels (34%) and search engines (31%). This multi-channel approach indicates that while digital tools are essential for research and monitoring, execution and strategy still rest with human advisers.
This preference for advice may become more pronounced as portfolios grow more complex and globally distributed. HSBC and its peers are positioning to serve this demand with integrated digital-advisory platforms that support both domestic and cross-border strategies.
Regional competition remains close
Singapore’s rise as a preferred offshore hub has also drawn comparisons to Hong Kong, long regarded as the primary Asian gateway for international wealth. Both centres remain highly ranked in the survey. However, continued political and capital movement constraints in China may prompt some investors to shift a portion of their international exposure to Singapore.
Meanwhile, institutions with a strong presence in multiple markets may benefit from this fragmentation. HSBC, for example, is leveraging its network across Asia, the Middle East, the UK and North America to provide continuity for mobile or globally oriented clients.
The data suggests that international diversification is no longer reserved for ultra-high-net-worth clients alone. With technology lowering access barriers and regulatory structures supporting transparency, affluent investors across age groups and geographies are adopting more outward-looking strategies.
For Singapore, the findings reinforce its role as a stable, accessible and increasingly strategic player in the global wealth ecosystem.
