A new report has revealed that Australia is the Top Destination for millionaires
Australia topped the chart as it has seen 11,000 millionaires moving here, followed by the US with 10,000 , Canada with 8,000 in the second place and third place respectively.
The New World Wealth has found A research on global wealth and migration trends that in 2016 nearly 11,000 millionaires moved to Australia retaining the top spot for the second straight year beating the Traditional Destinations for the world’s rich, such as America and the UK which attracted 10,000 & 3,000 millionaires respectively last year.
The Other countries that attracted rich migrants include UAE, Canada, UAE, Israel and New Zealand.
According to Global Wealth Review 2017 : Wealth Migration Trends & Worldwide Wealth report , the reasons behind more rich migrants choosing Australia than the UK and the US is Australia’s healthcare system and its location and the country’s perceived Immunity to the turmoil in the Europe’s migrant crisis and Middle Ease.
According to the report. Australia’s fast visa processing for investment & business, relatively higher economic growth, better civic amenities and lifestyle, the climate, the ease of doing business with other Asian economies here are the biggest draw for rich migrants
Among the top five countries in 2016 India was one which had the Maximum outflows of the Ultra Rich
Of the 264,000 millionaires in India, 6,000 super-rich Indians changed their domicile last year compared to 4,000 in the previous year.
The report says that at the end of 2016 there were approximately 13.6 million millionaires in the world and worldwide their wealth stood at US$69 trillion.
The report expects a 35 percent rise in the global wealth in the next ten years with India, Vietnam, China, Sri Lanka & Mauritius to emerge as the top performing wealth markets.