7000 ultra-rich Indians chose overseas immigration in 2017

The latest report of New World Wealth has revealed that 7000 ultra-rich Indians chose overseas immigration in 2017. The second largest outflow of millionaires was witnessed by India, next only to China. This was 16%+ over 2016, as quoted by the Hindu.

The latest report by New World Wealth reveals that 7000 ultra-rich Indians chose Overseas Immigration in 2017 as against 6000 in 2016. In 2015 around 4,000 Indian millionaires chose to immigrate overseas.

On the international level, around 10,000 ultra-rich Chinese nationals altered their nation of residence in 2017. The report by New World Wealth also gives details of other nationals that witnessed millionaires’ immigration. These are Turkey that had 6,000, the UK 4,000, France 4,000 and Russia 3,000.

The report also elaborated on the immigration trends of Indian millionaires. The HNIs immigrated to the US, Australia, Canada and New Zealand. On the other hand, Chinese millionaires immigrated to the US, Canada, and Australia.

The New World Wealth report also added that it anticipated that many affluent people would return to their native nations. This is after there is the enhancement in the standard of living of the nations to which they have immigrated.

The top nation that received the inflow of millionaires in 2017 was Australia with 10,000 super-rich immigrants arriving here. Thus it remained ahead of its chief rival the US for the third year in a row.

Over the last ten years, the total wealth held by Australia has increased by 83% when compared with the 20% growth of the US. Thus, the average Australian is now crucially richer than the average US national. This was not the case 10 years back when it was the US that was more affluent.

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