AfrAsia Bank is authorized and regulated by the Bank of Mauritius. The regional bank has published in its recent findings the number of millionaires migrating all over the globe. Data of the individuals with a net worth of $1 million to $9.9 million was included in the report.
As per its study, in 2019 over 16,000 Chinese and 7,000 Indian high net worth individuals moved out of their respective countries. Let us take a look at the top 10 countries and the number of millionaires that migrated out in 2019.
1. China
The country that saw the highest outflow of wealthy people was China, which lost 16,000 of its HNWIs in 2019. This accounts for a total loss of 2% of its HNWI population.
2. India
India recorded a net outflow of 7000 HNWIs in 2019. Just like China, this led to a loss of only 2% of the country’s HNW population.
3. Russian Federation
As per the study, in 2019, Russian Federation accounted for a net outflow of 5000 HNWIs which led to a loss of 5% of the country’s HNW population.
4. Hong Kong
A total of 4,200 HNWIs migrated out of Hong Kong in 2019 which led to a loss of 3% of the country’s HNW population.
5. Turkey
Though the number of millionaires that migrated out of Turkey in 2019 was lower than the above countries at 2100, it accounted for an 8% loss of HNW population which is the highest amongst all the countries.
6. United Kingdom
In the UK, nearly 2000 HNWI migrated out of the region in 2019 which did not affect the total HNW population of the country.
7. France
In 2019, nearly 1800 HNWI migrated out of the country which led to a loss of 1% of the country’s HNW population.
8. Brazil
1400 HNWI migrated from Brazil in 2019 which led to a loss of 1% of the HNW population.
9. Saudi Arabia
Saudi Arabia accounted for 1200 net outflow of the HNWIs in 2019. This led to a loss of 3% of the HNW population.
10. Indonesia
In 2019, 1000 HNWIs migrated out of Indonesia leading to a 1% loss in the HNW population of the country.
