GLOBAL WEALTH MIGRATION REVIEW 2019

May 10, 2019

According to the AFRASIA Bank Global Wealth Migration Review 2019, about 5,000 Indian HNWIs, or 2 per cent of India's super rich migrated from the country during 2018.

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India has been among the world's top countries in wealth creation, as per data since 2008. India will be the 4th largest wealth market by 2028, after US, China and Japan, and ahead of UK and Germany.
In the last 10 years, China has been the best performing country in terms of wealth creation, growing by 130%, while India ranked 4th with 96%. Mauritius and Ethiopia sneaked in at nos 2 and 3.
But, 48% of India's wealth is concentrated in the hands of HNIs, against a global average of 36%.
The country is also losing high net worth individuals (HNI) through migration. In 2018 alone, 5,000 millionaires from India left for foreign shores.
Global migration of HNIs is a trend that has picked up over the last few years. China, Russia and India rank as the top three countries seeing exodus of HNIs worldwide, followed by UK and France.
Australia has emerged as the top destination for global millionaire migrants, followed by US and Canada. Over 12,000 HNIs moved to Australia since 2008, against 10,000 to USA and 4000 to Canada.