Millionaire Migration – Where Wealth Is Going To In The World
Singapore and Australia are two top destinations where hospitable immigration rules, draw private wealth and international talent
In 2022, 88,000 millionaires are anticipated to relocate, according to the most recent Henley Global Citizens Report. What nations are these millionaires relocating to, and from whence are they coming? This map depicts where high net worth individuals (HNWIs), or those with a net worth of above USD 1 million, are migrating and where they are emigrating.
According to the most recent Henley Global Citizens Report, 88,000 millionaires are expected to relocate in 2022. The appended map shows the migration patterns of High Net Worth Individuals (HNWIs), or people whose net worth exceeds USD 1 million.
The extremely wealthy frequently change nations for a variety of reasons. One of them is escaping conflict, therefore it should come as no surprise that Russia and Ukraine are expected to have among the highest emigration rates by the end of 2022. The Top 5 nations in terms of the percentage of HNWIs lost are Ukraine (42%), Russia (15%), China (1%), India (2%), and Hong Kong (2%).
While 15,000 millionaires are predicted to depart Russia, 42% of its HNWIs are predicted to leave the nation by the end of 2022, representing the largest loss in percentage terms.
An estimated 10,000 fewer millionaires could live in China, which could lead to a significant decrease in that demographic. Since China’s overall wealth growth has recently slowed, Andrew Amoils, Head of Research at New World Wealth, believes that this could be much worse for the nation than in prior years. A predicted 4,000 HNWIs will enter the United Arab Emirates (UAE) by the end of 2022, making the country a wealthy magnet. In part, the country’s hospitable immigration rules, which are specially designed to draw private wealth and international talent, are to blame for this surge of ultra-wealthy people. Singapore and Australia come after this.
Australia, which ranks second to the UAE in terms of luring HNWIs, continues to do so. Almost 80,000 millionaires, according to New World Wealth, have emigrated to Australia in the past 20 years. Australia’s usually thriving economy, affordable healthcare, and lack of inheritance tax are just a few factors that draw immigrants there.
