A total of 6,500 millionaires are expected to leave India this year, based on the recent Henley Private Wealth Migration Report.
The report which analysis global wealth as well as investment migration trends has revealed that India is placed in the second position, while China occupies the first position with an estimated loss of a total of 13,500 HNWIs, VisaGuide.World reports.
However, in spite of the significant losses that India is expected to experience, the country has made a notable improvement compared to the previous year, when the outflow of millionaires reached 7,500.
Head of Research at New World Wealth, Andrew Amoils, told NDTV that such outflows should not be concerning after the country continues to produce a large number of new millionaires compared to those lost through migration.
The CEO of Henley & Partners, Juerg Steffen, considers that millionaire migration has marked a notable increase in the past decade while stressing that it is projected that nearly 122,000 millionaires will migrate globally this year and an estimated 128,000 in 2024.
The report of Henley and Partners shows that the United Kindom is placed in the third position with a projected outflow of a total of 3,200 HNWIs, while Russia is placed in the fourth position with an expected outflow of a total of 3,000 HNWIs.
According to the report, this year, Australia is expected to experience the most notable new inflow of high-net-worth individuals in countries worldwide, with an estimated 5,200 millionaires expected to relocate to Australia.
At the same time, the United Arab Emirates is expected to receive a significant net arrival of a total of 4,500 millionaires this year.
Singapore occupies the third position with the highest-ever net inflow of a total of 3,200 high-net-worth people, followed by the United States with an anticipated net influx of 2,100 HNWIs.
As for Switzerland, it is placed in the fifth position with a projected net inflow of 1,800 HNWIs, followed by Canada, placed in the sixth position with an estimated net influx of 1,600 high-net-worth individuals.
Henley Private Wealth Migration Report is dedicated to those interested in following wealth and investment migration trends, providing statistics indicating the best countries in terms of net inflows as well as outflows of millionaires as well as private wealth distribution.
The recent report shows that in recent years, the number of high-net-worth individuals has marked an increase, or more specifically in 2020 (12,000), 2021 (25,000), and 2022 (84,000).
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