Executive Education

List of Countries with biggest outflows of millionaires, from 2000 – 2014

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.


  1. Chinese millionaires mainly moved to the US, Hong Kong, Singapore and the UK.
  2. Indian millionaires tended to move to the UAE, the UK, the US and Australia.
  3. French and Italian millionaires tended to move to the UK, Switzerland and Luxemburg.
  4. Russian millionaires tended to move to the UK, Europe and the USA.
  5. Indonesian millionaires mainly moved to Singapore.
  6. South African millionaires tended to move to Australia, the UK, Cyprus, Mauritius, the USA and Canada.
  7. 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
1 China 91,000
2 India 61,000
3 France 42,000
4 Italy 23,000
5 Russia 20,000
6 Indonesia 8,000
7 South
8 Egypt
Notes: HNWI numbers rounded to nearest 1000.
Source: NW-Wealth
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Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

In his current role, he counsels and collaborates with c-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. Dr. Amarendra has extensive experience in serving on numerous boards. He leads and supports a globally dispersed team of columnists, correspondents, editors, journalists, reporters, researchers, and industry analysts.

He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He also received his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. He earned his Master of Business Administration degree in Finance and his master’s degree in Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

As CEO, he transformed the CEOWORLD magazine into a highly efficient, digital-first, profitable enterprise. Today, CEOWORLD magazine is a standard bearer for modern responsible journalism. Dr. Amarendra retains a strong desire to continuously improve his skills and abilities and believes that the first step to being a true leader is to inspire others to lead with you.

Prof. Dr. Amarendra Bhushan Dhiraj is the CHAIR, CEO, AND EDITORIAL DIRECTOR of the CEOWORLD magazine. Connect with him through LinkedIn.