AfrAsia Bank is authorized and regulated by the Bank of Mauritius. The regional bank has published in its recent findings the number of millionaires who migrate around the world. Data for people with a net worth of $ 1 million to $ 9.9 million was included in the report.
According to their study, in 2019 more than 16,000 Chinese and 7,000 high-net-worth Indians moved from their respective countries. Let’s take a look at the top 10 countries and the number of millionaires who emigrated in 2019.
The country that saw the largest outflow of wealthy people was China, which lost 16,000 of its HNWIs in 2019. This represents a total loss of 2% of its HNWI population.
India recorded a net outflow of 7,000 HNWIs in 2019. Like China, this caused a loss of only 2% of the country’s HNW population.
3. Russian Federation
According to the study, in 2019, the Russian Federation accounted for a net outflow of 5,000 HNWI, causing a loss of 5% of the country’s HNW population.
4. Hong Kong
A total of 4,200 HNWIs emigrated from Hong Kong in 2019, causing a loss of 3% of the country’s HNW population.
Although the number of millionaires who emigrated from Turkey in 2019 was lower than previous countries in 2100, it represented a loss of 8% of the HNW population, which is the highest among all countries.
6. United Kingdom
In the UK, nearly 2,000 HNWIs migrated out of the region in 2019, which did not affect the country’s total HNW population.
In 2019, nearly 1,800 HNWI emigrated out of the country, causing a loss of 1% of the country’s HNW population.
1,400 HNWI emigrated from Brazil in 2019, causing a loss of 1% of the HNW population.
9. Saudi Arabia
Saudi Arabia accounted for 1,200 net HNWI outflows in 2019. This caused a loss of 3% of the HNW population.
In 2019, 1,000 HNWI emigrated out of Indonesia, causing a loss of 1% in the country’s HNW population.