The latest report by New World Wealth has revealed that 10,000 millionaires immigrated to Australia in 2017 making it the top nation for HNWIs. It leaves behind its rival the US for the third consecutive year.
Australia has thus emerged as the number one ranking destination for super-rich people for 2018. In the last one decade, the sum of wealth of Australia has increased by 83%. It was just 20% for the US on the other hand.
Owing to the constant inflow of Millionaires Immigrated to Australia, the common Australian is now richer by a huge margin when compared with the average US national. This was not the case a decade earlier, adds the report by the New World Wealth, as quoted by the Hindu.
The second most favored destination for overseas millionaires in 2017 was the US with the arrival of 9,000 HNWIs. It was followed by Canada with 5, 000 millionaires arrival and by UAE that received the same number.
The New World Wealth report has ranked India on the 6th place in the ranking of rich nations. It has estimated their wealth at 8, 230 billion dollars. The trend of migration for Indian HNWIs has also been revealed by the report. They immigrated to the US, Canada, the UAE and Australia.
India has 3, 30, 400 ultra-rich people that have more than minimum 1 million or plus as net assets. India was also ranked at the 9th place for this in the global rankings. A billionaire is defined as an individual with total assets of I billion $ or plus.
The report elaborated that the immigration of Global wealth is increasing and 95, 000 millionaires immigrated in 2017.
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