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Julius Baer Global Wealth and Lifestyle Report 2025 APAC Key Highlights

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Overview – Asia Pacific’s Wealth Boom Accelerates

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)

[1] Refer to Appendix from page 54 onwards for more details on rankings, and details on price changes on Lifestyle Index items for each city.

Hashtag: #JuliusBaer

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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

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Lambency Detailing Expands Its Footprint with New Bukit Batok Outlet, Growing Its Presence to Serve More Drivers Across Singapore

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22/01/2026

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SINGAPORE – Media OutReach Newswire – 22 January 2026 – Lambency Detailing, a name trusted by car owners across Singapore for its commitment to exceptional automotive care, is marking a significant new chapter. The company has officially opened its second outlet at WCEGA Plaza in Bukit Batok, making professional car grooming more accessible to clients in the west, just as demand is set to surge for Chinese New Year.

Recognised as the Sgcarmart Star Merchant from 2021 to 2026 and a SONAX Authorised Premium Detailer, Lambency Detailing blends world-class German technology with unrivalled workmanship. Led by IDA-certified professionals, the team brings deep technical knowledge and a long-standing reputation for transparent, quality service to every appointment. This expansion into Bukit Batok is a natural step forward for a company whose sole mission has always been to provide every car owner with peace of mind, fair pricing, and genuine care in a welcoming, no-pressure environment.

With the opening of its Bukit Batok outlet, Lambency Detailing is also introducing an expanded menu of services to meet the evolving needs of car enthusiasts and owners of premium vehicles. Launching in 2026, the team will offer dry ice treatment for gentle, effective cleaning without water or harsh chemicals, professional car spray painting using top-grade materials to restore any vehicle’s finish to showroom brilliance, to safeguard paintwork against chips, scratches, and environmental harm for the long term. It should be noted that advanced services such as dry ice treatment and professional spray painting are available exclusively at the Ubi outlet, where the team is equipped with the specialised technology and facilities required for these precision-driven solutions.

Lambency Detailing’s journey began with one simple frustration: the belief that car owners in Singapore should not have to compromise on price, quality, or service. Through years of refinement and the support of like-minded car owners, the company has grown into a centre of technical excellence, where clients receive truly personalised before-and-after care. Today, Lambency Detailing’s experience and dedication can be found at both of its conveniently located centres — its flagship Ubi outlet serving Singapore’s automotive hub in the east, and the newly opened Bukit Batok outlet at WCEGA Plaza for the west — ensuring that more drivers can embrace their festive journeys with vehicles that look and feel their absolute best.

“Our new Bukit Batok outlet represents a fresh chapter of growth for Lambency Detailing. By extending our presence to the west, we are doubling down on our commitment to technical excellence. We want our customers to experience a higher standard of transparency and quality as we evolve our service offerings for 2026,” says Matthew Lim, Director of Quantum Globe Pte Ltd, the company behind Lambency Detailing.

For this Chinese New Year and beyond, Lambency Detailing is ready to help every car owner drive forward with confidence, value, and peace of mind. Whether you are a first-time car owner or a collector of luxury vehicles, the Lambency promise remains the same: quality workmanship, honest pricing, and dedicated care at every step.

For appointments and more information, visit https://lambencydetailing.com/.

END

Lambency Detailing Locations:

  • Bukit Batok Outlet (Now Open)

1 Bukit Batok Crescent, #03-22 WCEGA Plaza, Singapore 658064
Tel: +65 8070 9008

  • Ubi Outlet

53 Ubi Avenue 1, #01-31 Paya Ubi Industrial Park, Singapore 408934
Tel: +65 9658 5808
Hashtag: #LambencyDetailing

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Paul Chan attends the World Economic Forum Annual Meeting in Switzerland; spotlights Hong Kong’s advantages as an international hub for trade and finance

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21/01/2026

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HONG KONG SAR – Media OutReach Newswire – 21 January 2026 – Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), has joined about 3,000 world leaders attending the 56th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland (January 19-23). During the WEF Annual Meeting 2026, themed “A Spirit of Dialogue”, Mr Chan attends, speaks and joins discussions at several keynote meetings, luncheons and dinners. He also meets with political, business and financial leaders to brief them on the latest situation in Hong Kong as well as the city’s new opportunities.

Mr Chan attended a breakfast reception hosted by virtual asset enterprise Animoca Brands, headquartered in Hong Kong, yesterday (January 20). Speaking at the meeting, Mr Chan said that Hong Kong adopts a proactive yet prudent approach to the development of digital assets guided by the principle of “same activity, same risk, same regulation” to promote responsible and sustainable market development. Since 2023, Hong Kong has issued licences to 11 virtual asset trading platforms, and a licensing regime for stablecoins is expected to be launched later this year. The Financial Secretary also noted the HKSAR Government’s leadership role in promoting tokenisation, including the issuance of three batches of tokenised green bonds amounting to around US$2.1 billion.

Mr Chan also engaged with a number of officials from different economies and regional organisations attending the WEF Annual Meeting, including Deputy Prime Minister and the Minister of Finance of Thailand, Mr Ekniti Nitithanprapas; the Secretary-General of the Cooperation Council for the Arab States of the Gulf, Mr Jasem Mohamed Albudaiwi; the Minister of Investment and Foreign Trade of Egypt, Mr Hassan El Khatib; and the State Secretary for International Finance at the Federal Department of Finance of Switzerland, Ms Daniela Stoffel. They exchanged views on the global political and economic landscape and issues of mutual concern, and explored opportunities to strengthen collaboration in areas such as trade, finance, industry development and digital transformation.

During a meeting with the Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, Mr Chan reiterated that Hong Kong, China firmly supports free trade and multilateralism, and expressed support for the WTO’s efforts to pursue reforms in response to current global challenges, with a view to enhancing its agility in addressing emerging issues in international trade.

HKSAR’s Financial Secretary Paul Chan (right) meets with the Director-General of the World Trade Organization, Dr Ngozi Okonjo-Iweala, in Davos, Switzerland

On arriving Davos (January 19), Mr Chan began his visit programme by meeting with the Minister of Economy of the Sultanate of Oman, H.E. Dr Said Mohammed Al-Saqri. During the meeting, the two sides discussed ways to deepen mutually beneficial cooperation in areas such as finance, trade, green transformation and industrial development.

Mr Chan said that Hong Kong’s advantages as a “super connector” could support Oman’s transitioning from an oil-driven growth model towards a more diversified economic structure. He said that Hong Kong could facilitate Chinese Mainland and Hong Kong enterprises to invest in Oman to support its infrastructure and industrial development. At the same time, Hong Kong’s status as an international financial centre in Asia could provide Omani enterprises with an ideal platform for fundraising and financing, as well as offshore Renminbi investment and risk management products.

Mr Chan will continue his programme in Davos, including participating at the 2026 Davos-Caixin CEO Luncheon and the “How to Finance Decarbonization?” session of the WEF Annual Meeting, before returning to Hong Kong on January 24 morning.


Hashtag: #hongkong #brandhongkong #WEF #internationalhub #trade #finance





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2026 Functional Food & Wellness Summit Successfully Concludes

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21/01/2026

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BANGKOK, THAILAND – Media OutReach Newswire – 21 January 2026 – On January 21, 2026, the two-day 2026 Functional Food & Wellness Summit (FFWS 2026) successfully concluded in Bangkok, Thailand. As an flagship annual event and benchmark hub in the global functional food sector, especially across the Asia-Pacific region, the summit fulfills the core mission of linking top global industrial resources and guiding the industry’s innovative development.

It gathered over 150 industry elites from more than 20 countries and regions, including China, Canada, the U.S., France, Italy, Spain, Australia, Thailand, Japan, Malaysia, India, Singapore, and Indonesia. Among them were core decision-makers and R&D leaders from global giants such as FeiHe, Morinaga, Mead Johnson, Suntory, Yili Group, Meiji, Amway, Health & Happiness (H&H), Mengniu Dairy, Rousselot, and Sirio. They engaged in in-depth discussions and precise resource matching around key industrial topics like policy compliance, technological innovation, and market expansion, consolidating consensus and injecting strong momentum for the high-quality advancement of the global functional food industry.

The summit was jointly guided by authoritative institutions, including the International Probiotics Association (IPA), the Asean Alliance of Health Supplement Associations（AAHSA）, the Malaysian Dietary Supplements Association (MADSA), the Japan Health Business Media, the Expert Nutraceutical Advocacy Council (ENAC®), and Coherent Market Insights. FeiHe served as the Diamond Sponsor, Morinaga as the Gold Sponsor, and Rousselot as the Presentation Sponsor.

During the two-day sessions, nearly 30 industry leaders delivered professional insights. George Paraskevakos, Executive Director of the International Probiotics Association, deeply interpreted the trends and challenges of microbiome innovation from the perspective and practice of the IPA. Pichit Pongsukvechkul, immediate Past President of Health Food and Supplements Association, detailed the latest regulatory dynamics of health products and functional foods in ASEAN, offering practical guidance for enterprises’ cross-border layout. Sandeep Gupta, Chief Founder of the Expert Nutraceutical Advocacy Council, focused on the overseas expansion paths of Indian and global nutraceutical brands, providing ideas for enterprises to tap into international markets. Leading businesses including Amway, Meiji, H&H and FeiHe delivered high-value keynote speeches at the conference, and the conference also arranged panel discussions focusing on core topics, which sparked a wealth of insightful ideas centering on hot issues such as technological innovation, market trends and compliance development.

The 2026 Functional Food & Wellness Industry Awards Ceremony drew wide attention. Centering on ingredient innovation, product R&D, and technological breakthroughs, the organizing committee honored outstanding businesses and products in niche tracks such as gut health, maternal and infant nutrition, bone health, immune protection, blood sugar management, sports nutrition, cognitive function, digestive health, and anti-aging, setting industry benchmarks. Representatives of winning businesses stated that the awards are recognition of their products and technologies, and will further inspire them to deepen innovation and enhance product quality and core competitiveness.

Fresh Milk Protein Ingredient Technology Innovation Award-Liquid Milk Protein-Heilongjiang Feihe Dairy Co., Ltd.

Breast Milk-Adapted Formula Technology Innovation Award-AceKid Plus Genugro Growing-up Formula-Heilongjiang Feihe Dairy Co., Ltd.

Annual Cognitive Function Product Award-Bifidobacterium breve MCC1274-Morinaga

Annual Probiotic Innovation for Glycemic Control Product Award-Mengniu Yourui Antangdun Probiotic Powder-Mengniu Dairy

Annual Probiotic Product Award-Biobor PROBIOTICS GUMMY BEARS- Biobor Health （Guangdong) Co., Ltd.

Annual Gold Award for Gut Health-Yili Health Science Changshi Probiotic Freeze-Dried Powder-Yili Group

Annual Liver Health Product Award-BElixz LIVCORE-BE International

Annual Immune Protection Excellence Award-Mengniu Yourui Huangjin Protein Powder-Mengniu Dairy

Annual Technological Innovation Pioneer Award-Mengniu Ruibuen EnZhi Infant Formula Milk Powder，Mengniu Ruibuen QinYi Infant Formula Milk Powder，Mengniu Ruibuen ChuAi Niu Niu Infant Formula Milk Powder-Mengniu Dairy

Annual Bone and Joint Health Product Award-Biobor D3+K2+Ca GUMMIES- Biobor Health （Guangdong) Co., Ltd.

Active Nutrient & Fresh Ingredient Formula Technology Innovation Excellence Award-Qicui Infant Formula Milk Powder, Jicui Infant Formula Milk Powder-Heilongjiang Feihe Dairy Co., Ltd.

Excellence Award for Infant & Toddler Fresh Formula Rice Cereal-Feihe Platinum Formula Rice Cereal-Heilongjiang Feihe Dairy Co., Ltd.

Annual Digestive Health Ingredient Award-SIRIO Apple Cider Vinegar AppOtics®-Sirio Pharma

Annual Gold Award for Protein Quality-Yili Health Science Immunoglobulin Protein Powder-Yili Group

Annual Technological Innovation Pioneer Award-Tribiosynsis®-Chambio

Annual Popular Product Flavor Award-Mengniu Yourui Selenium-Enriched High-Calcium Goat Milk Powder-Mengniu Dairy

Annual Bone and Joint Health Product Award-Mengniu Yimibaba Probiotic Drops-Mengniu Dairy

Annual Immune Function Product Award-BElixz SHIRUTO-BE International

New Generation Lactose-Free Milk Protein Innovation Breakthrough Award-FIRMUS Ranch Milk Protein Nutritional Powder-Heilongjiang Feihe Dairy Co., Ltd.

Active Nutrient & Fresh Ingredient Formula Technology Innovation Excellence Award-AceKid Optigrow Powdered Milk Drink-Heilongjiang Feihe Dairy Co., Ltd.

Annual Sports Nutrition Product Award-Biobor OXYPEAK GUMMIES- Biobor Health （Guangdong) Co., Ltd.

Innovation Gold Award for Bone Health-Bone Energy Formula Milk Powder-Yili Group

Annual Vision & Eye Health Product Award-BElixz I-VXION -BE International

Annual Healthy Snack Innovation Award -Mengniu Yimibaba Nutritional Milk Tablet，Mengniu Yimibaba Growth Nutritional Bar-Mengniu Dairy

Annual Health Protection Product Award-MeadJohnson AGIJOY Immunoglobulin Bovine Colostrum Powder-Mead Johnson

Breast Milk-Adapted Formula Technology Innovation Award-Qicui Infant Formula Milk Powder, Jicui Infant Formula Milk Powder-Heilongjiang Feihe Dairy Co., Ltd.

Musculoskeletal Health Innovation Award-Feihe Aiben Small Molecule Milk Protein Special Dietary Powder Series-Heilongjiang Feihe Dairy Co., Ltd.

Annual Cognitive Function Product Award-Biobor DHA GUMMIES- Biobor Health （Guangdong) Co., Ltd.

Gold Award for Blood Glucose Health-Digestible Sugar Milk Powder-Yili Group

Annual Weight Management Product Award-Mengniu Sosodaily Probiotic Powder Platinum Edition/Luxury Gold Edition -Mengniu Dairy

Infant Clinical Evidence Early Life Nutrition Excellence Award-Qicui Infant Formula Milk Powder, Jicui Infant Formula Milk Powder, Zhuorui Infant Formula Milk Powder-Heilongjiang Feihe Dairy Co., Ltd.

Excellence Product Award for Children’s Active Immune Protein-Feihe Lactoferrin Nutritional Powder-Heilongjiang Feihe Dairy Co., Ltd.

Annual Healthy Ageing Nutrition Ingredient Award-SIRTMAX-Tokiwa Phytochemical Co., Ltd.

Innovation Gold Award for Joint Health-Bone Energy Gold Formula Milk Powder-Yili Group

Annual Temperature-Controlled Freshness Locking & Native Nutrition Dual Excellence Innovation Award-Mengniu Pure Milk Powder -Mengniu Dairy

Arjun, the representative from Amway, said: “This summit featured a rich and diverse agenda, covering hot topics such as product R&D, marketing, and compliance, and provided a diverse and professional communication platform for participants from all sectors of the industry.”

Richard, the speaker from Meiji, mentioned that this was the first time he had attended such an industry summit on behalf of the company, and he stated plainly that the experience was highly rewarding and educatiional. He added that the summit had brought together top players in the industry, and many guest speakers delivered presentations with substantive content and profound insights, which offered significant practical reference value.

Solange Henoud, Vice-President Regulatory & Compliance of Lallemand Health Solutions, commented: “The event features numerous interactive sessions that enable in-depth communication and experience sharing. Through thematic discussions, roundtables, and other segments, we gained a comprehensive understanding of the latest developments in the functional food and nutrition health sector.”

After the summit, the FFWS Organizing Committee announced that it will confirm and release the date and venue of the 2027 Functional Food & Wellness Summit and subsequent related activities later this year. Please stay tuned for updates.

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