Asian economies to top richest list by 2050: study
SINGAPORE (AFP) - Singapore, Hong Kong, Taiwan and South Korea are projected to be the world's richest economies on a per capita basis by 2050 as the region's rapid growth boosts wealth creation, a study showed.
The survey by property giant Knight Frank and Citi Private Bank, reported in Singapore media on Wednesday, also showed multi-millionaires in Asia will continue to outnumber those in North America and Western Europe by 2050.
Singapore topped the list in 2010 and is expected to keep the top spot in 2050, when the city-state's gross domestic product (GDP) per capita would reach US$137,710 (S$172,139).
It will be trailed by Hong Kong (US$116,639), Taiwan (US$114,093) and South Korea (US$107,752) with the United States coming in fifth place, falling from third place in 2010. Singapore's 2010 GDP per capita stood at US$56,532, while Hong Kong (US$45,301) - the only other Asian economy in the top 10 that year - was in fourth place.