Media OutReach
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)
Hashtag: #JuliusBaer
The issuer is solely responsible for the content of this announcement.
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
Media OutReach
YF Life Clinches Hong Kong Economic Journal’s “Outstanding Application of Diversified Investment Strategies” Award Once Again
Driving Sustainable Long-Term Value for Clients via the Innovative “Invesurance” Philosophy
HONG KONG SAR – Media OutReach Newswire – 26 June 2026 – YF Life Insurance International Limited (YF Life) has once again been recognized at the Hong Kong Economic Journal (HKEJ) Insurance Excellence Awards 2026, clinching the prestigious “Outstanding Application of Diversified Investment Strategies” Award1. This accolade reaffirms YF Life’s leadership in insurance investment landscape, underscoring the company’s success in leveraging systematic asset allocation to generate long-term value for clients for its clients through its unique “Invesurance” (Insurance + Investment) philosophy.
Mr. Dennis Luk, Chief Investment Officer of YF Life, stated: “We are deeply honored to receive this prestigious recognition for the second consecutive year. At the core of YF Life’s investment strategy is the profound integration of ‘insurance’ and ‘investment’. Moving beyond traditional models, we utilize a dynamic, multi-asset allocation framework that spans fixed income, public equities, and private markets. Under our ‘1+N’ architecture, we partner with Barings2 to manage high-quality bond portfolios, while simultaneously collaborating with leading global asset management institutions to deploy capital across private equity and alternative investments. This strategic approach optimizes risk-adjusted returns and effectively mitigates market volatility.”
YF Life’s financial strength continues to be validated by leading international rating agencies. Following eight consecutive years of receiving an “A-” (Strong) Insurer Financial Strength (IFS) rating from Fitch, YF Life has also secured its “A3” Insurance Financial Strength Rating (IFSR) from Moody’s. These milestones are a testament to YF Life’s robust financial position, prudent capital management, and stringent risk-control capabilities.
Looking ahead, YF Life remains committed to deepening its “Invesurance” philosophy. The company will continue to focus on delivering sustainable and stable asset growth for clients, further building a forward-looking and resilient wealth management blueprint.
Organized by the Hong Kong Economic Journal, the Insurance Excellence Awards aim to honor outstanding enterprises within the insurance sector, recognizing industry peers who consistently innovate and enhance the quality of their products and services. This year, more than 10 awards were presented following a rigorous selection process conducted by a panel of professional judges.
Notes:
[1] https://features.hkej.com/template/features/html/isa2026/index.html
[2] https://www.barings.com/en-hk/guest
Hashtag: #YFLife
The issuer is solely responsible for the content of this announcement.
Media OutReach
Singapore Institute of Management: Student Life and Campus Communities Becoming a Key Deciding Factor in Higher Education
This shift reflects a broader trend across the sector, where institutions are being evaluated not only on academic outcomes, but also on their ability to provide holistic student experiences that support mental wellbeing, social integration, and career readiness.
At the Singapore Institute of Management (SIM), student engagement has become a central pillar of the learning experience, with a wide network of student led clubs and communities designed to support both personal and professional development.
A Growing Priority: Belonging and Wellbeing
Industry observations indicate that students, particularly those transitioning from secondary education or arriving from overseas, often face challenges such as social isolation, cultural adjustment, and limited peer support networks. Research also highlights that being away from familiar support systems and adapting to a new cultural and academic environment can be an isolating process, contributing to increased stress, anxiety, and reduced perceived social support
To address this, SIM has developed a structured student life ecosystem supported by its Student Development initiatives and programmes such as Project1095, which emphasises learning beyond the classroom and holistic growth. With close to 80 student clubs and co-curricular activities available, students are provided with multiple avenues to build connections and integrate into campus life.
From Co-Curricular Activities to Career Readiness
Student clubs are increasingly seen as more than recreational clubs, playing a meaningful role in preparing students for the workforce. Participation in such communities enables students to develop transferable skills aligned with employer expectations, including leadership, collaboration, and communication.
At SIM, student led initiatives span a broad spectrum, from arts and cultural groups that foster creativity and teamwork through performances and events, to sports and wellness communities that promote physical resilience and discipline. Leadership platforms such as student councils provide opportunities for students to organise initiatives and represent the student body, while international student communities support cultural integration and inclusivity.
In addition, special interest and professional clubs offer exposure to industry trends and peer led learning. Collectively, these platforms provide practical experiences that complement academic programmes and contribute to graduates’ overall employability.
Reflecting a Broader Shift in Higher Education
The increasing importance placed on student life reflects a wider evolution in higher education, where institutions are expected to support both academic achievement and personal development.
By investing in student communities and engagement, institutions like SIM are responding to this shift, providing environments where students can not only gain qualifications, but also build networks, resilience, and a strong sense of identity.
As prospective students weigh their options, the availability of vibrant campus communities and support systems is likely to remain a key differentiator in the higher education landscape.
Reference:
- The experience of loneliness among international students participating in the BBC Loneliness Experiment: Thematic analysis of qualitative survey data – https://www.sciencedirect.com/science/article/pii/S2666518223000189?
- Mental health concerns and needs of international students in higher education settings: A scoping review protocol – https://pmc.ncbi.nlm.nih.gov/articles/PMC12334020/
- SIM CCA – https://www.sim.edu.sg/degrees-diplomas/life-at-sim/co-curricular-activities
- SIM Project 1095 – https://project1095.simge.edu.sg/
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 17,000 full- and part-time students and adult learners, of which approximately 41% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
Media OutReach
Nexus Aesthetic Clinic to Host Pro Bono Aesthetic Literacy Talk for Women in Singapore
The session is designed to help members of the public ask clearer questions before deciding whether a medical aesthetic treatment is appropriate for them. Rather than focusing on any one procedure, the talk will cover consultation-first decision-making, how medical assessment should come before choosing treatments such as fil, and why natural-looking outcomes depend on suitability, restraint, and medical judgement.
As aesthetic treatments become more visible across social media and everyday conversation, consumers are often exposed to trend-led content before receiving a proper clinical assessment. Nexus Aesthetic Clinic says the pro bono session aims to bring the conversation back to patient suitability, risk-aware planning, and thoughtful decision-making.
The talk will be led by Dr Samantha Tay, Medical Director of Nexus Aesthetic Clinic. Attendees will learn what a responsible consultation should cover, including treatment history, skin condition, facial structure, medical considerations, expected trade-offs, and when a conservative approach may be more appropriate.
“Patients today are more informed than before, but they are also exposed to more aesthetic trends than ever,” said Dr Samantha Tay. “A good aesthetic decision should not begin with a treatment name. It should begin with a proper assessment of the patient’s face, skin quality, concerns, medical history, and whether treatment is appropriate in the first place.”
Community organisations interested in hosting similar pro bono education sessions may reach Nexus Aesthetic Clinic through the collaboration page.
Hashtag: #NexusAestheticClinic
The issuer is solely responsible for the content of this announcement.
About Nexus Aesthetic Clinic
Nexus Aesthetic Clinic is a natural-led medical aesthetic clinic located at TripleOne Somerset in Singapore. Led by Medical Director Dr Samantha Tay, the clinic focuses on consultation-led aesthetic care, conservative treatment planning, and natural-looking outcomes.
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