Millionaires in Record Numbers Head to Australia
A record 82,000 millionaires moved to another country last year, with Australia picking up the wealthiest residents, according to reports.
Australia is now the world’s Top destination for millionaires, with 11,000 moving there last year.
The US has 10,000 new millionaires, while Canada was 3rd on the list with 8,000. The number of millionaires moving to another country jumped 28% from previous years, according to a report in New World Health, a market research firm based in South Africa.
“The wealthy today don’t have a country,” a partner at New York’s Withers Worldwide, a law firm that helps wealthy clients move and relocate around the world, said. “They don’t view their success as being related or dependent on a single country, but on their own business strategies. It’s amazing to me how many of the very wealthy are going totally mobile.”
Australia was an attractive destination for Chinese millionaires for several reasons: its relative proximity, its clean environment, wide choice of private schools and its political and economic stability.
The countries left behind mostly were: France at 12,000 and China with 9,000, followed by Turkey, India and Brazil.