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Top 10 countries whose wealthy residents moved abroad in 2019

A study by AfrAsia Bank showed that work opportunities, tax and financial concerns were driving people with high net worth abroad. The study covered only individuals with net worth ranging from $1 million to $9.9 million.

January 20, 2022 / 02:13 PM IST
India’s 7,000 high net worth individuals (HNWI) have left the country and moved overseas in 2019. A study AfrAsia Bank covered only individuals with a net worth of $1 million to $9.9 million, who took up residency in a new country and spent at least half of the year there. According to the report, work, opportunities, tax and financial concerns were among the reasons HNWI were deciding to make these move. Here is a list of top 10 countries with the highest number of HNWIs emigrating in 2019. (Image: Shutterstock)
India’s 7,000 high net worth individuals (HNWI) have left the country and moved overseas in 2019. A study AfrAsia Bank covered only individuals with a net worth of $1 million to $9.9 million, who took up residency in a new country and spent at least half of the year there. According to the report, work, opportunities, tax and financial concerns were among the reasons HNWI were deciding to make these move. Here is a list of top 10 countries with the highest number of HNWIs emigrating in 2019. (Image: Shutterstock)
Rank 1 | China | No. of HNWIs who migrated: 16,000 | The country lost 2 percent of its HNWI population. (Image: Shutterstock)
Rank 1 | China | No. of HNWIs who migrated: 16,000 | The country lost 2 percent of its HNWI population. (Image: Shutterstock)
Rank 2 | India | No. of HNWIs who migrated: 7,000 | 2 percent of India’s wealthy population left the country. (Image: Shutterstock)
Rank 2 | India | No. of HNWIs who migrated: 7,000 | 2 percent of India’s wealthy population left the country. (Image: Shutterstock)
Rank 3 | Russia | No. of HNWIs who migrated: 5,000 | This is led to a loss of 6 percent of its HNW population. (Image: Shutterstock)
Rank 3 | Russia | No. of HNWIs who migrated: 5,000 | This is led to a loss of 6 percent of its HNW population. (Image: Shutterstock)
Rank 4 | Hong Kong | No. of HNWIs who migrated: 4,200 | 3 percent of HNW population migrated from Hong Kong.
Rank 4 | Hong Kong | No. of HNWIs who migrated: 4,200 | 3 percent of HNW population migrated from Hong Kong.
Rank 5 | Turkey | No. of HNWIs who migrated: 2,100 | 8 percent of Turkey HNW population left the country.
Rank 5 | Turkey | No. of HNWIs who migrated: 2,100 | 8 percent of Turkey HNW population left the country.
Rank 6 | United Kingdom | No. of HNWIs who migrated: 2,000 | The country didn’t see much of a change in its HNWI population. (Image: Reuters)
Rank 6 | United Kingdom | No. of HNWIs who migrated: 2,000 | The country didn’t see much of a change in its HNWI population. (Image: Reuters)
Rank 7 | France | No. of HNWIs who migrated: 1,800 | 1 percent of HNW population migrated.
Rank 7 | France | No. of HNWIs who migrated: 1,800 | 1 percent of HNW population migrated.
Rank 8 | Brazil | No. of HNWIs who migrated: 1,400 | This led to a loss of 1 percent in HNW population. (Image: Shutterstock)
Rank 8 | Brazil | No. of HNWIs who migrated: 1,400 | This led to a loss of 1 percent in HNW population. (Image: Shutterstock)
Rank 9 | Saudi Arabia | No. of HNWIs who migrated: 1,200 | Country lost 3 percent of its HNW population.
Rank 9 | Saudi Arabia | No. of HNWIs who migrated: 1,200 | Country lost 3 percent of its HNW population.
Rank 10 | Indonesia | No. of HNWIs who migrated: 1,000 | 2 percent of Indonesia’s HNW population moved overseas. (Image: Shutterstock)
Rank 10 | Indonesia | No. of HNWIs who migrated: 1,000 | 2 percent of Indonesia’s HNW population moved overseas. (Image: Shutterstock)
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