NEW YORK – Aug. 4, 2015 – The United States, United Kingdom, Singapore and Australia are seeing an influx of millionaires, according to a report from New World Health, which in conjunction with LIO Global, completed a review of worldwide millionaire migration patterns.
The report compared the principal location of about 60,000 global high-net worth individuals in 2000 with the same sample in 2014. “Millionaires” were defined as “high-net worth individuals” with net assets of $1 million or more, excluding their primary residences.
The United Kingdom had the highest number of high net worth individuals immigrating from abroad. The majority came from Europe, Russia, China, India, the Middle East and Africa.
More high-net worth individuals are also coming to the United States, notably from China as well as the United Kingdom, India and Russia.
“Wealthy people in emerging markets such as China and India want their children to grow up and go to school in the U.K., U.S.A., etc.,” says Andrew Amolis, head of research at New World Wealth.
Singapore is also receiving one of the highest migrations of high-net-worth individuals, particularly from China, India and Indonesia, while Australia is seeing its numbers rise from India, China, Indonesia, the United Kingdom and South Africa.
Source: “Millionaires Migrating to U.K., U.S., Singapore, and Australia, Report Says,” Forbes.com (Aug. 2, 2015)