Singapore leads Southeast Asia in financial management interest

It was driven by rising per capita income and a growing wealthy demographic.

Singapore leads Southeast Asia in interest in personal finance management, with a significant indicator of 9.8%, according to an analysis by UnaFinancial.

The study examined search requests related to personal finance management in 11 Southeast Asian countries over the past year. The indicator of interest was calculated as a ratio of search requests to the average population over the previous 12 months.

“Singapore's performance is driven by a rising income per capita and a growing number of wealthy people, who are interested in investment tools,” the experts noted.

Following Singapore, Thailand and Brunei secured the second and third positions with 6.7% and 3.1% interest, respectively. 

“All three countries are characterised with a growing supply of investment tools, high levels of accumulated wealth, and a large share of Millenials and Gen Z (54%), who are looking for financial management tools,” the report said.

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Additionally, Thailand's interest in currency depreciation also prompted residents to explore wealth preservation options.

Meanwhile, Myanmar, Cambodia, and Laos recorded the lowest interest indicators but showed the fastest growth in search requests for financial management. The growth is attributed to improving financial literacy and initiatives supporting micro-enterprises in these countries.