Vista, the leading private aviation group, has spotlighted Singapore’s emergence as Southeast Asia’s premier luxury destination during an exclusive panel event. The discussion, featuring insights from VistaJet, Knight Frank, and Sanlorenzo Asia Pacific, highlighted the growing demand for private aviation, luxury real estate, and superyachts among the region’s ultra-high-net-worth individuals (UHNWIs).
The panel revealed that Southeast Asia is expected to account for nearly half of the global UHNWI growth by 2028. This surge is reflected in Vista’s operations, with a 10% increase in Memberships across the region and a remarkable 100% year-on-year rise in XO flight traffic in Singapore. Amy Yang from Vista noted, “Singapore has consistently ranked among the top destinations for Vista’s clientele,” attributing this to its blend of Asian cultures and status as an international business hub.
Christine Li of Knight Frank shared that Asia Pacific is projected to account for 47.5% of the global UHNW population growth between 2025 and 2028. She highlighted significant property transactions in Singapore, such as the $520 million (US$520 million) purchase of the 21 Collyer Quay office building, underscoring the city’s appeal to sophisticated investors.
Ewa Stachurska from Sanlorenzo Asia Pacific pointed out Singapore’s emergence as a yachting hub, with 4,000 boats and yachts stationed in the city. This reflects a broader shift towards luxury purchases that offer both immediate enjoyment and long-term value.
Singapore’s status as a luxury hub is further evidenced by a 362% increase in flight traffic during the Taylor Swift Eras Tour and a 168% surge during the Singapore Grand Prix. As the region’s luxury ecosystem continues to evolve, Singapore remains at its centre, attracting both established and emerging affluent travellers.
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