Singapore fell into second place behind Qatar in this year’s built asset wealth per person ranking, revealed the latest Global Asset Wealth Index published by Arcadis.
Compiled by the Centre for Economics and Business Research (Cebr), the Index calculates the value of all the buildings and infrastructure that contribute to economic productivity within 32 countries, which collectively account for 87 percent of global GDP.
The city-state, which previously held the top spot in 2013, registered a built asset wealth of US$191,500 per person compared to Qatar’s built asset wealth of US$198,000 per person.
“Despite losing its top position in the built asset wealth per person ranking, the sustained performance of this small, densely populated island state reflects a continued and focused investment in infrastructure. It has retained a high-end manufacturing industry and continues to be a desirable environment to live, work and do business,” said Chris Graham, Head of Business Advisory, Singapore at Arcadis.
Asian countries dominated the top five positions in the built asset wealth per person ranking, with Hong Kong and Japan taking the third and fourth spots respectively.
Meanwhile, total built asset wealth globally now stands at around US$218 trillion, which is equivalent to US$30,700 per person.
China emerged as the country with the highest built asset wealth at US$47.6 trillion, followed by the USA with a wealth of US$36.8 trillion.
“The health and wealth of a nation can be measured in many different ways and while factors such as GDP or employment have great value, a prosperous society is underpinned by a well-developed built environment that meets the needs of its people and economy,” added Adam Sutton, Asia Leader of Business Advisory at Arcadis.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
