A total of 91,000 Chinese millionaires and 61,000 Indian millionaires – migrated out of their countries and settle down overseas in the last 14 years from 2000 – 2014, according to a recent survey jointly conducted by consultancies New World Wealth and LIO Global.
France, Italy, Russia, Indonesia, South Africa and Egypt round out the top eight. High Net World Individuals (HNWI) refers to individuals with net assets of $1 million or more excluding their primary residences.
- Chinese millionaires mainly moved to the US, Hong Kong, Singapore and the UK.
- Indian millionaires tended to move to the UAE, the UK, the US and Australia.
- French and Italian millionaires tended to move to the UK, Switzerland and Luxemburg.
- Russian millionaires tended to move to the UK, Europe and the USA.
- Indonesian millionaires mainly moved to Singapore.
- South African millionaires tended to move to Australia, the UK, Cyprus, Mauritius, the USA and Canada.
- Egyptian millionaires mainly moved to the UAE, Turkey and the UK.
While China tops the list of highest number of millionaires leaving the homeland with 91,000 millionaires, India ranks second. The U.K. – London, in particular topped the list of being the highest receipient of “high-net-worth individuals” (HNWIs) inflows from around the world, followed by the U.S., Singapore, Australia and Hong Kong.
Countries with biggest outflows of HNWIs – World: Countries ranked by outflows, 2000 – 2014
|Rank||Country||Net outflow of HNWIs|
|Notes: HNWI numbers rounded to nearest 1000.