A significant portion of High-Net-Worth Individuals (HNWIs) in Hong Kong are contemplating a move to other countries, particularly Singapore, over the next five years. According to a recent study by Agility Research & Strategy, this trend is driven by a desire for improved living standards. The research also delves into their preferences regarding education and wealth management, revealing plans for substantial wealth transfers and a focus on social responsibility initiatives.

The survey highlights that 40% of HNWIs in Hong Kong are seriously considering relocation, with Singapore being the preferred destination. This decision stems from a pursuit of better quality of life. In terms of education, while some prefer local universities, many plan to send their children abroad or to China. Regarding wealth management, a considerable number have already set up legal trusts for future asset transfers. Over the coming decade, a notable wealth transfer is anticipated, with inheritors aiming to elevate their lifestyle and living standards. Moreover, these individuals prioritize education for disadvantaged groups and climate action as part of their social responsibilities.

Agility Research & Strategy conducted an extensive survey involving over 600 HNWIs across Hong Kong and Singapore. The findings provide valuable insights into the motivations and priorities of this affluent demographic. The data suggests a growing dissatisfaction with current living conditions in Hong Kong, prompting a search for greener pastures in places like Singapore. Additionally, there is a strong emphasis on ensuring future generations receive top-tier education, whether locally or internationally. For wealth management, establishing legal trusts has become a common practice to facilitate smooth wealth transfer. Socially, these individuals are committed to making a positive impact through educational support for underprivileged communities and environmental sustainability efforts.

Overall, the report underscores a shift in the aspirations of HNWIs in Hong Kong. Their desire for enhanced living standards and quality education, coupled with strategic wealth management practices, reflects a broader trend towards relocating to more favorable environments. Furthermore, their commitment to social responsibility indicates a balanced approach to personal and societal well-being.