Millionaires Left India: This year 6500 rich Indians will leave the country, China’s condition is even worse… This country is the first choice! – India expected to lose 6500 millionaires hni in 2023 second highest after China tuta

Every year lakhs of people go abroad for better employment. But amidst all this, there are hundreds of such rich people, who leave the country and settle abroad every year. Well, it is not a new thing for rich people to go and settle abroad.

A report has estimated that this year too a large number of rich Indians may leave the country. However, this year most of the millionaires from China will go and settle in other countries. India is at second place in this list. In such a situation, it is a matter of some concern for India that why are the millionaires leaving the country.

According to Henley Private Wealth Migration Report 2023, 6500 high net worth individuals i.e. HNIs can leave the country in 2023. However, this number is less than last year, when 7 and a half thousand HNIs left India.

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7500 Indians left the country in 2022
Henley’s report, which monitors wealth and investment migration around the world, states that the largest number of people leaving their country and making their homes in other countries is from China, from where 13500 rich people are expected to migrate this year. Whereas last year 10,800 rich people left China and settled in other countries.

Britain is at third place in this list, from where 3200 millionaires are expected to leave the country this year. At the same time, 3 thousand high net worth individuals from Russia are expected to go to other countries and he is at number four in this list.

Trend of migration of rich around the world
However, most experts believe that millionaires leaving the country is not a matter of great concern. The argument behind this is that by 2031 the population of millionaires may increase by about 80 percent. During this period, India will be one of the fastest growing wealth markets in the world. Along with this, the maximum number of millionaires will emerge from the financial services, technology and pharma sectors in the country. In such a situation, from India’s point of view, this number reducing in 2022 is a news of great relief.

Why do rich people leave their country?
The question arises that why do rich people leave their country? In fact, due to complexities in tax related rules in India, thousands of rich people leave the country every year. Places like Australia, Dubai and Singapore are being liked the most by the rich around the world because the rich like to go to those countries where the tax related rules are flexible.

According to this report, more rich people will migrate from UK, Russia, Brazil, Hong Kong, South Korea, Mexico, South Africa, Japan, Vietnam and Nigeria than last year. At the same time, more foreign rich people can settle in Australia, UAE, Singapore, America, Switzerland, Canada, Greece, France, Portugal, New Zealand and Italy this year compared to last year.

Australia most favorite place

There are many special things about Australia being the most favorite place for millionaires. Due to Australia’s climate, beaches, safety and security, better health system, quality of life, better education opportunities, easy tax system and good economy, most of the rich people like to settle in Australia.

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