Top Countries Losing Millionaires in 2024

Top countries in the world for millionaires leaving

Projected net outflows of millionaires in 2024

Key Observations

1. 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.

2. 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.

3. 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.

4. 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.

5. Russia

   • Projected Net Outflow: -1,000
   • Thoughts: With ongoing political and economic challenges, Russia's wealthy individuals might be seeking stability and security elsewhere.

6. Brazil

   • Projected Net Outflow: -800
   • Thoughts: Economic instability and political uncertainty in Brazil could be pushing millionaires to relocate.

7. South Africa

   • Projected Net Outflow: -600
   • Thoughts: Safety concerns, economic factors, and political issues might be driving wealthy South Africans to emigrate.

8. 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.

9. Vietnam

   • Projected Net Outflow: -300
   • Thoughts: Vietnam’s growing yet volatile market might encourage some high-net-worth individuals to seek stability abroad.

10. 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

Additional Notes

• 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.

• 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.

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