Top Countries Losing Millionaires in 2024

Top countries in the world for millionaires leaving

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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

CountryProjected 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

  • 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.

Reference:

newworldwealth.com
The Henley Wealth Migration Report 2023