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Julius Baer Global Wealth and Lifestyle Report 2025 APAC Key Highlights
HONG KONG SAR – Media OutReach Newswire – 14 July 2025 – The sixth edition of the Julius Baer Global Wealth and Lifestyle Report confirms the ongoing shift from material consumption towards experiences.
Jen-Ai Chua, Research Analyst, Asia, Julius Baer, commented: “Asia Pacific remains one of the fastest-growing regions globally. Real GDP grew 4.5 per cent year on year in 2024 – moderating slightly from 5.1 per cent in 2023 but still outpacing the global average of 3.3 per cent. Firm fundamentals have set the stage for the rapid ascent of wealth in the region. The number of high-net-worth individuals in Asia is projected to have grown 5 per cent year on year to 855,000 in 2024. Growth in China and India is expected to help bring Asia’s share of new HNWIs globally to an estimated 47.5 per cent between 2025 and 2028.”
Global city rankings: Three APAC cities in the top six globally
Asia Pacific (APAC) continues to be an expensive place to live well in general, as its developing cities continue their upward economic trajectory. The region saw only slight price decreases of 1 per cent on average across the region, making it the most stable of all the surveyed regions this year.
Once again, two of the world’s three most expensive cities can be found in the Asia Pacific region, where Singapore ranks 1st (unchanged) and Hong Kong ranks 3rd (from 2nd). Bangkok and Tokyo made the largest leaps, each climbing six places to 11th and 17th respectively. Conversely, Shanghai dropped from fourth to sixth, and Manila fell to 23rd despite a 7.5 per cent rise in average local currency prices.
- Singapore (ranked #1 globally):
- Singapore continues to top the index as the costliest city for living well for the third consecutive year. Despite this, the city remains highly liveable, appealing to high-net-worth individuals and businesses due to its stable political climate, safety, and quality services, including education and healthcare. Overall, Singapore’s stability and connectivity continue to make it a leading choice for relocation and residency.
- Lifestyle index[1]: Singapore is ranked the most expensive for categories of car and women’s handbag, second for women’s shoes and third for residential property and healthcare. It is amongst the least expensive for a treadmill (ranked 21st).
- Hong Kong (ranked #3 globally):
- Hong Kong remains one of the most expensive cities to live well. Its low taxes and cosmopolitan appeal continue to attract wealthy individuals, bolstered by a residency-by-investment programme that has drawn significant interest from both mainland Chinese and global HNWIs.
- Lifestyle index: Hong Kong is ranked the most expensive for a lawyer, and second most expensive for car and residential property, and third for degustation dinner. While Singapore saw hotel suites rise 10 per cent this year, Hong Kong saw a 26 per cent fall in prices.
- Shanghai (ranked #6 globally):
- Lifestyle index: Shanghai remains the second most expensive city for watches, the third most expensive city for women’s shoes, and while it is the most expensive city to have a degustation dinner, it is interestingly the second cheapest for Champagne, after Hong Kong.
- Bangkok (ranked #11 globally):
- Bangkok made one of the biggest jumps this year, going up 6 places. While relatively affordable for many services in the index, Bangkok is one of the priciest global cities for luxury goods such as ladies’ and men’s fashions, as well as cars and watches.
- Lifestyle index: Bangkok is ranked most expensive for women’s shoes, and third for cars.
- Mumbai (ranked #20 globally):
- Despite India’s position as a rising economic powerhouse, Mumbai is relatively affordable for most services, particularly hospitality and travel.
- Lifestyle index: Interestingly, it is jointly ranked most expensive for treadmill, but cheapest across the board for LASIK.
Shifting spending patterns among APAC’s wealthy
In APAC, spending on goods remains high, though consumer preferences continue to evolve. The growing wealth of APAC’s HNW population, combined with increased interest in health, wellness, and experiences, continues to shape spending patterns across the region.
APAC HNWIs boost investment and risk appetite
HNWIs in APAC have tended to increase both spending and investing (39 per cent), with the highest overall total increase in those investing at 68 per cent.
Most HNWIs from APAC have increased the diversity of assets in their portfolio and a consistent proportion has increased the level of risk. Investors in these regions also tend to be more interested in investing in future trends or in line with their values. Equities remain the preferred asset class in APAC, followed by real estate and cash. Despite notable ‘ESG fatigue’ in other regions, there has been a growing commitment to sustainable investing in APAC.
Products and services APAC HNWIs spent more money on in the past 12 months
HNWIs in APAC have seen some of the biggest jumps in cost for lifestyle spending habits, outpacing all regions in high-end women’s clothes, hotels, fine dining, as 80 per cent of them have reported increased assets over the past year.
There was one category this year where prices increased more sharply than any other – across almost all cities and in APAC, business class flights rose 12.6 per cent and the region also saw a marked increase in leisure travel compared to business travel.
In line with global trends, longevity is now top of mind for many HNWIs in APAC. In the region, 100 per cent said they are taking measures to increase their lifespans, ranging from lifestyle changes such as regular exercise and a good diet to more extreme measures such as gene therapy and cryogenic chambers being used by 21 per cent of respondents in APAC. Unlike other regions, those in APAC said that their attitudes are overwhelmingly concerned with health, even as other regions reported more interest in dining experiences and human interaction.
The Next Generation
When it comes to financial longevity, the majority of HNWIs say the will adjust their wealth strategy to cover an increase in lifespan, with measures ranging from reviewing their existing wealth structure and rebalancing their portfolios to re-evaluating retirement goals. Respondents in APAC were much more likely to create a long-term care plan, with 68 per cent positively checking this option.
While old economy businesses will be a mainstay of wealth in Asia, entrepreneurship opportunities facilitated by the emergence of newer technologies are changing the profile of the Asian HNWI. Concurrently, the intergenerational wealth transfer that should see a projected USD 5.8 trillion in assets change hands between 2023 and 2030 will accelerate the shift towards new preferences in lifestyle and spending choices, such as a growing focus on sustainability, increased digitalisation and a bias towards experiences.
As wealth continues to shift in Asia Pacific, these trends will influence global luxury markets, real estate, and investment strategies in the years ahead.
To download the Julius Baer Global Wealth and Lifestyle Report 2025, please visit: www.juliusbaer.com/GWLR (the report will be available after 3 p.m. Hong Kong Time)
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About Julius Baer
Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of April 2025, assets under management amounted to CHF 467 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.
Julius Baer is present in over 25 countries and around 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, Shanghai, Singapore, Tel Aviv, and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base, and our entrepreneurial management culture make us the international reference in wealth management.
For more information visit our website at www.juliusbaer.com
The Reality of the Raya Rush
The lead-up to Raya is a whirlwind of grocery runs, deep cleaning, and late nights in the kitchen. By the time the first open house begins, most women have already put in an incredible amount of effort for their families. The quiet moments in between are not just a break. They are earned.
XIXILI’s pajamas are made for those moments. Easy to move in, soft enough to wear through the night, and the kind of pieces that make coming home feel like something to look forward to. Designed to fit a wide range of body types, every woman can find something that feels as good as it looks.
“Raya is everything. The food, the family, the laughter. And at the end of it all, she deserves to rest just as well as she celebrated,” says Tara Tan, Marketing Director at XIXILI.
Comfort That Carries Through the Season
Raya may bring the occasion, but the shift happening in Malaysian wardrobes goes further than that. Women are increasingly treating sleepwear as a considered part of their self-care, not just something to change into before bed.
“We often talk about the joy of gathering, but we rarely talk about the exhaustion that comes with it,” Tara Tan adds. “Our goal for Raya 2026 is to ensure that when the last guest leaves, every woman has a high-quality piece of loungewear to retreat into. It is about honouring the work she does by giving her the rest she deserves.”
Quality loungewear for the wind-down, the slow morning, and every quiet moment in between has become one of the most considered purchases a woman makes this season.
Made to Be Worn, Not Just Owned
Good sleepwear should not sit tucked away at the back of a drawer. It should be the first thing she reaches for at the end of a long day, worn in and looked forward to. XIXILI’s range is built for exactly that, styles that settle naturally into her routine and carry her well beyond the festive season.
The full sleepwear collection is available online and at XIXILI boutiques nationwide. To shop the range, visit www.xixili-intimates.com.Hashtag: #XIXILI
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About XIXILI
A homegrown Malaysian brand, XIXILI offers beautiful fashion lingerie and shapewear in Malaysia that prioritises fit and comfort. With an extensive range of bra sizes from A to I and bands 65 to 110cm, XIXILI caters to women of all shapes and sizes. Expert fitters are dedicated to helping each customer find the perfect bra, boosting confidence and enhancing silhouettes.
XIXILI became the first Malaysian lingerie brand to introduce a Try-On in 3D avatar tool, allowing customers to virtually try on XIXILI lingerie using a 3D avatar tailored to their specific body type and measurements. Whether for everyday wear or something special, XIXILI ensures women always look and feel amazing.
Specifically, in addition to the existing incentives currently available, customers who switch from old gasoline vehicles to new VinFast electric vehicles during the program period will receive an additional 3% discount for cars and 5% discount for scooters. The program will be applied across all four markets: Vietnam, India, Indonesia, and the Philippines.
In line with VinFast’s pioneering spirit, GSM Green and Smart Mobility Joint Stock Company has also announced an immediate 10% reduction in fares for electric mobility services on the Xanh SM platform in Vietnam and Green SM in Indonesia from March 11 to March 31, 2026. This initiative offers customers a more environmentally-friendly and cost-effective transportation option.
The program may be extended depending on international developments and future fuel price movements.
Ms. Duong Thi Thu Trang, Deputy CEO of Global Sales, VinFast, stated: “The special ‘Trade Gas for Electric’ program launched in March across four key markets is VinFast’s timely response to geopolitical volatility that is affecting socio-economic conditions in many countries around the world. As one of the pioneering manufacturers leading the global electric vehicle revolution, VinFast together with companies in Vingroup’s green ecosystem aims to help reduce the impact of fuel prices on people’s daily lives while also lowering environmental pollution through smarter, more sustainable, and more cost-efficient mobility solutions.”
The special “Trade Gas for Electric” program will be implemented in parallel with and combined with other available incentive programs in each market. Through layered incentives, Vingroup and companies within its ecosystem aim to create favorable conditions for customers to transition quickly to electric vehicles, reduce dependence on gasoline, stabilize daily life, and contribute to building a cleaner and more civilized living environment.
Hashtag: #Vingroup
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Media OutReach
Singapore University of Social Sciences Expands Regional Footprint in China with Launch of Success Academy in Chongqing
New Academy and Shenyang satellite office strengthen SUSS’ visibility and partnerships across Western and Northeast China.
CHONGQING, CHINA – Media OutReach Newswire – 10 March 2026 – The Singapore University of Social Sciences (SUSS) today launched the SUSS Success Academy in Chongqing in collaboration with Raffles Young Academy (RYA) Pte Ltd and announced the establishment of a satellite office in Shenyang. Building on its Success Academies in Beijing and Shenzhen, the Academy strengthens SUSS’ presence in China and supports its growing engagement across Western and Northeast China.
The launch was commemorated with an opening ceremony at the CCI Gallery, attended by close to 70 guests from China and Singapore, including representatives from institutions of higher learning, and industry and community partners. The ceremony was presided by Vice-Consul (Political) Ms. Mavis Tan, Consulate-General of the Republic of Singapore, Chengdu and Mr. Li Xunfu, Deputy Director of Chongqing Municipal Commission of Commerce.
Success Academy to connect partners from Singapore and China
Anchored in SUSS’ commitment to lifelong learning and creating social impact, the Academy will serve as a key nexus for academic and industry partners from both countries. Through cross-cultural collaboration and practice-oriented learning, it also aims to develop future-ready talent equipped to contribute meaningfully to society and the economy.
RYA is an education and talent development organisation aimed at nurturing future-ready talent through industry-oriented learning and international exposure. RYA will bring its networks and local expertise to support and enhance the Academy’s initiatives.
Through the Academy, SUSS will provide opportunities for students from SUSS and other Singapore pre-tertiary and tertiary institutions to co-learn and co-innovate with peers in China. These include interdisciplinary global learning courses, impact startup and venture builder programmes, industry-based immersions and student exchanges. SUSS students will also gain regional exposure through internships and other workplace learning opportunities. In addition, the Academy will support SUSS in working with universities and organisations in China to jointly design and deliver industry-relevant courses and programmes for students and executives.
Extending engagement into Northeast China with Shenyang satellite office
To further deepen its engagement in Northeast China, SUSS will launch a satellite office in Shenyang on 11 March 2026 under the Success Academy in Chongqing. This office will support SUSS’ initiatives in Liaoning Province and surrounding areas, including Dalian. In addition, three Memoranda of Understanding (MOU) will be signed with the following organisations:
- Shenyang University of Chemical Technology (SYUCT): Collaborative development of a Master’s degree programme in Social Work, fostering cross-border knowledge exchange, curriculum innovation, and talent development to address evolving social service needs.
- North-East Institute of Population and Social Development: Joint research endeavours, professional development programmes, and meaningful academia-industry partnerships to generate evidence-based solutions, build capabilities, and promote active ageing ecosystems that benefit individuals and communities.
Professor Tan Tai Yong, President of SUSS, said, “China is an important partner for SUSS as we expand opportunities for our students and strengthen collaboration across Asia. The launch of the Success Academy in Chongqing allows us to work more closely with universities, industry and community partners in Western and Northeast China, and to deliver applied, practice-oriented education that responds to real-world needs. Our partnership with Raffles Young Academy reflects our shared commitment to developing future-ready talent and supporting professional growth across the region.”
Mr. Samuel Ng, Executive Chairman, RYA, said, “Our collaboration with the Singapore University of Social Sciences reflects a shared belief in applied, practice-oriented education and in preparing students and enterprises to navigate an increasingly complex and interconnected world. Chongqing’s strategic position as a gateway to Western China and a hub for industry and connectivity makes it an ideal location for immersive, industry-linked education. This partnership represents a long-term commitment to building enduring bridges between students and industry, between academia and practice, and between Singapore and China.”
The launch of the Success Academy in Chongqing is part of SUSS’ broader expansion across Asia. Since 2023, SUSS has established Success Academies in Beijing, Shenzhen, Ho Chi Minh City Bangkok, Kuala Lumpur, Jakarta, Manila and Mumbai.
For more information, visit www.suss.edu.sg/success-academy.
Hashtag: #SUSS
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The issuer is solely responsible for the content of this announcement.
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