Singapore Tops Asia List for Highest Monthly Savings Potential

With over 4.6 billion people, Asia represents the world's largest labor market, yet financial security for workers varies depending on which country they call home. A new study by a moneylender company in Singapore analyzed salary levels against living costs across Asian countries to identify where residents have the greatest capacity to build personal wealth.

The research evaluated income and expense data using multiple financial metrics: average monthly net salaries after tax, cost of living expenses, safety indices, and quality of life indicators. Countries were ranked based on their estimated monthly spare money potential - the amount left over after covering essential living expenses.

Here's a look at the top 10 Asian countries with the highest savings potential:

You can access the complete research findings here.

Singapore comes in first place with an outstanding $3,030 monthly savings potential. The city-state benefits from the highest average monthly salary at $4,249 after tax and decent safety standards. Local living costs amount to $1,219 monthly. Despite elevated expenses, Singapore's high wages allow residents to potentially save over $36,000 annually.

The United Arab Emirates secures second position, enabling residents to accumulate $2,796 monthly in spare cash. Emirati workers earn $3,935, while living costs amount to $1,139, delivering exceptional value through controlled expenses. The UAE also maintains excellent safety standards while offering a high quality of life for its residents.

South Korea takes third place, allowing citizens to save $2,198 monthly, or $26,376 in total per year. Korean wages stand at $3,259 against moderate costs of $1,061, leaving substantial room for wealth accumulation. The nation provides a good quality of life while registering decent safety levels for its population.

Japan ranks fourth with $1,778 monthly savings capacity, showcasing East Asian economic strength. Despite earning $2,596 monthly - significantly less than the top three countries - Japanese residents benefit from controlled living costs at just $817. Japan also achieves the highest quality of life score among all ranked nations.

Kuwait captures fifth position as locals here can manage to set aside $1,696 monthly or $20,352 annually. Kuwaitis average $2,516 monthly while managing living expenses of $819 - nearly identical to Japan's cost structure. The country sustains solid quality of life standards and strong safety standards compared to the rest of Asia.

Saudi Arabia ranks sixth with $1,619 monthly savings potential, amounting to $19,428 per year. The average Saudi employee earns $2,413 monthly. The local living costs are also remarkably low at $795, making the kingdom the most affordable among all the top 10 states. Saudi Arabia also fares well in the quality of life index and shows good safety conditions for residents.

China lands in seventh position, posting $867 in monthly spare money for workers. Chinese employees receive $1,454 monthly salary while handling basic expenses of $588. The country maintains adequate safety standards and enables residents to accumulate a total of $10,404 annually.

Taiwan secures eighth place through technological sector strength, providing locals with $849 monthly for wealth building. Taiwanese salaries amount to $1,718 against living costs of $869. Despite modest savings capacity, Taiwan achieves excellent safety conditions and registers solid quality of life standards, allowing citizens to save $10,188 per year.

Malaysia takes ninth position, showing $777 monthly savings capability. Malaysians receive $1,312 in wages while facing living expenses of $535. The country positions well in the quality of life index, and locals are able to save approximately $9,324 per year.

India completes the top 10 with $315 monthly spare money potential. Indian workers collect $658 monthly against living costs of $343 - both figures highlighting the region's developing status. The country demonstrates moderate safety conditions with developing quality of life standards, translating to $3,780 in yearly savings potential.

"The data reveals interesting patterns in how Asian workers build wealth," says the loan company spokesperson. “Singapore proves that premium salaries can overcome expensive living costs, while Saudi Arabia demonstrates the opposite - modest incomes can still generate solid savings when expenses are controlled. What's also interesting is how technology-driven economies like South Korea and Taiwan show strong results, while resource-rich Gulf states utilize their natural advantages. Another notable finding is how living costs make or break savings potential across the region."