Top Countries Losing Millionaires in 2024
Top countries in the world for millionaires leaving
Projected net outflows of millionaires in 2024
Key Observations
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China
- Projected Net Outflow: -15,200
- Thoughts: This significant outflow indicates a major movement of wealth from China. Factors such as economic conditions, political environment, and opportunities abroad might be influencing this trend.
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United Kingdom
- Projected Net Outflow: -9,500
- Thoughts: The UK's large net outflow suggests potential concerns among its wealthy population. Brexit and economic policies might be contributing factors.
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India
- Projected Net Outflow: ~4,300
- Thoughts: India's notable outflow indicates a movement towards more favorable markets. Possible reasons include seeking better investment opportunities and international business expansion.
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South Korea
- Projected Net Outflow: -1,200
- Thoughts: Although less significant than China and the UK, South Korea's outflow is a noteworthy trend. Factors might include the search for diversified economy and better living standards abroad.
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Russia
- Projected Net Outflow: -1,000
- Thoughts: With ongoing political and economic challenges, Russia's wealthy individuals might be seeking stability and security elsewhere.
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Brazil
- Projected Net Outflow: -800
- Thoughts: Economic instability and political uncertainty in Brazil could be pushing millionaires to relocate.
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South Africa
- Projected Net Outflow: -600
- Thoughts: Safety concerns, economic factors, and political issues might be driving wealthy South Africans to emigrate.
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Taiwan
- Projected Net Outflow: -400
- Thoughts: The outflow from Taiwan suggests some millionaires are exploring opportunities in other regions, possibly due to international tensions or economic reasons.
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Vietnam
- Projected Net Outflow: -300
- Thoughts: Vietnam’s growing yet volatile market might encourage some high-net-worth individuals to seek stability abroad.
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Nigeria
- Projected Net Outflow: -300
- Thoughts: Economic and political challenges, along with security concerns, are likely key factors in Nigeria's millionaire outflow.
Table Extract
Country | Projected Net Outflow of Millionaires |
---|---|
China | -15,200 |
UK | -9,500 |
India | ~4,300 |
South Korea | -1,200 |
Russia | -1,000 |
Brazil | -800 |
South Africa | -600 |
Taiwan | -400 |
Vietnam | -300 |
Nigeria | -300 |
Additional Notes
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Data Source: New World Wealth
- The projections are based on year-to-date High-Net-Worth Individuals (HNWI) movements up to June 2024.
- Figures are rounded to the nearest 100.
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Definitions:
- Millionaire: An individual with liquid investable wealth of USD 1 million or more.
- HNWI (High-Net-Worth Individual): Refers to individuals with liquid investable wealth of USD 1 million or more.
Understanding these trends can provide insights into global economic and geopolitical movements, helping policymakers, economists, and investors to make informed decisions.
Reference:
newworldwealth.com
The Henley Wealth Migration Report 2023