About 108 thousand millionaires migrated in 2018, an increase of 14% compared to 2017 and doubled compared to 2013, of which Australian settlement is the top choice of millionaires from all over the world.
According to figures released by the New World Wealth organization with main offices in Johannesburg – South Africa announced countries such as Australia, the US, and Canada are the top million settlement destinations for millionaires.
Australia tops the list of desired destinations of Immigrants. Not only is the country safe, but also having a good development economic policy with China, Japan, and Korea. Australia is a choice because it maintains sustainable growth and avoids the economic continuity depression for 27 years.
After Australia, the US is a popular destination in 2018, in which cities like New York, Los Angeles, Miami, and the San Francisco Bay Area are the preferred choices of migrants.
In 2018, China and Russia are the countries with the largest number of millionaires emigrating. Brexit and tax are the reason why 3 thousand millionaires leave the UK. The cause of migrant millionaires is also due to the crime situation, lack of business opportunities, religious stress or future development opportunities.
The tightening of Chinese government regulations on capital and taxes makes them migrate to preserve their assets. Meanwhile, the rich in some other Asian countries have decided to migrate to developed countries to find more comfortable living conditions for themselves and their families or improve children’s education. However, according to New World Wealth, when the living standards in these countries improve, some rich people will return.
Transformation in emerging markets is also the reason for the migration of wealthy people. Turkey lost 4,000 millionaires in 2018 and this is the third year in a row that this country has thousands of millionaires emigrated. Meanwhile, about 7,000 millionaires have left Russia after a year when the country is being under sanctions by western countries.