The per capita financial assets held by households varies widely between countries in Asia. Most of the Asian countries are emerging or frontier economies while a few of them are developed economies. Hence it is not surprising to see that households’ financial wealth differs from one country to another.
Singapore boasts the highest per capita gross financial assets among Asian nations according to a report by Allianz. At the end of 2014, Singapore’s per capita financial assets stood at EUR 106,620. To put this number in perspective, it is more than 10 times as high as in China and more than 100 times as high as in India. After Singapore, Japan and Taiwan are the next richest countries in terms of per capita gross financial assets.
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The above chart makes it clear that countries like India, Indonesia and even China have a long way to go before becoming a prosperous and wealthy country like Singapore.
Households also have liabilities just like a government or a corporation does. When liabilities are accounted and net assets calculated, Japan beat Singapore with the highest per capita financial assets.
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Based on net per capita financial assets, India and Indonesia are even worse off with figures under EUR 1,000 per household.
Source: Allianz Global Wealth Report 2015, Allianz
