Please enter your username and password here:Forgot Password?
Please enter your details here:or Login
By ExpatBriefing.com Editorial
01 April, 2014
A new report examining the migration patterns of High Net Worth Individuals between 2003 and 2013 says that the highest net inflow was to the UK, while the largest outflow was from China.
The study, by international consultancy New World Wealth, found that the UK's net inflow of HNWIs (defined as persons with a net worth of USD1m or more, excluding primary residence) during these years had been 114,100. Most were from Europe, China, and India, although there were saw significant immigration from Russia, the Middle East (particularly Saudi Arabia and Iran) and Africa (particularly South Africa, Nigeria and Egypt).
The UK's net inflow was more than twice that of Singapore, which came second. Singapore experienced a net inflow of 45,000, mostly from China, India, Indonesia, and Europe. Third place went to the USA (net inflow of 42,400), then Australia (22,200), Hong Kong (19,700, mostly from mainland China), and the UAE (10,100).
Meanwhile, 76,200 millionaires emigrated from China, mainly to Hong Kong, Singapore and the UK. India had the second-largest outflow, at 43,400, with the UK, the US and Australia being the preferred destinations. The study also noted that a large portion of HNWIs who had been domiciled in Switzerland for tax purposes had moved to Singapore, the UK, or the UAE.
At the end of 2013, London had the greatest number of USD millionaires (339,200), followed by New York (300,100), and Tokyo (226,500). However, the cities with the greatest densities of HNWIs were Geneva (5.9 percent), Zurich (4.6 percent) and Singapore (4.5 percent).
New World Wealth has a database of over 120,000 HNWIs, sourced from company, director, and luxury goods records, while liquidity event tracking allows the company to spot newly-emerging HNWIs.
Tags: Russia | South Africa | Wealth | India | Australia | China | Singapore | United Kingdom | Hong Kong | Switzerland | United States | Expats | Immigration | Europe | Africa | Middle East | Immigration
About | Useful Links | Global Media Partners | Media | Advertising And Sales | Banners And Widgets | Glossary | RSS | Privacy & Cookies | Terms And Conditions | Editorial Policy | Refer To A Friend | Newsletters | Contact | Site Map
Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. © Wolters Kluwer TAA Ltd 2016. All rights reserved.
The Expat Briefing brand is owned and operated by Wolters Kluwer TAA Limited.