The countries millionaires are leaving in their droves
The flight of the world's rich
Many of the world's millionaires are on the move. We take a look at the five countries that lost the most millionaires last year, and the five countries that attracted the most mega-rich migrants in 2016, according to a report by New World Wealth.
Turkey – 6,000 fewer millionaires
In 2015, a total of 1,000 millionaires moved away from Turkey. That figure skyrocketed to 6,000 last year. Experts put the exodus of wealthy residents down to the political, security and economic problems plaguing the country, which have worsened of late.
Turkey – 6,000 fewer millionaires
Freedoms have been curtailed following July 2016's failed coup and the security situation in the country is deteriorating with terrorism and religious violence on the increase. On top of that, the value of the Turkish lira has declined against the US dollar, triggering a flow of wealth overseas.
India – 6,000 fewer millionaires
A small stampede of millionaires has left India over the last 14 years, with 6,000 vacating the country in 2016. A haphazard, unpredictable taxation system, in which immediate payment demands are issued at random, is one of the main reasons millionaires cite for leaving.
India – 6,000 fewer millionaires
This uncertainty about the taxation system is compounded by concerns regarding the country's poor infrastructure, high levels of air pollution and widespread poverty, prompting the mega-rich to decamp to better-developed countries that enjoy a higher standard of living and less wealth inequality.
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Brazil – 8,000 fewer millionaires
A toxic combination of political chaos, high-level corruption, low commodity prices and a poorly-performing economy has led to a major wealth drain in Brazil. A massive 8,000 millionaires emigrated in 2016, up from 2,000 in 2015.
Brazil – 8,000 fewer millionaires
The impeachment of President Dilma Rousseff, following her government's huge mismanagement of public funds, and the Petrobas corruption scandal have been the main drivers, not to mention the stubbornly low price of oil and lack of robust economic growth.
China – 9,000 fewer millionaires
Tens of thousands of millionaires have left China during the last decade, and 9,000 quit the country in 2016 alone. In fact, over the past 10 years, China has lost an eye-watering $3.8 trillion ($3trn) to capital flight.
China – 9,000 fewer millionaires
Polls indicate that a majority of Chinese millionaires aspire to live overseas. They cite reasons that include restrictions on personal freedom at home, a lack of good senior management jobs and concerns about the country's levels of air pollution.
France – 12,000 fewer millionaires
Millionaires have been leaving France in their droves for some years now. Last year, a staggering 12,000 bid adieu to the country. High taxation has been a major catalyst and is among the top reasons high net-worth individuals are quitting France.
France – 12,000 fewer millionaires
The recent spate of terrorist attacks and ongoing State of Emergency, coupled with a surge in support for extreme right-wing parties and rising anti-Semitism, have also prompted thousands of millionaires to try their luck overseas.
New Zealand – 4,000 extra millionaires
So exactly where are all these mega-rich migrants heading? New Zealand for starters. The affluent Antipodean nation is a veritable millionaire magnet, attracting a total of 4,000 last year, eager to enjoy its high standard of living, lack of corruption and stable political and taxation systems.
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New Zealand – 4,000 extra millionaires
The ultimate safe haven to boot, New Zealand is the number one destination for paranoid millionaires and billionaires who fear catastrophic war or societal breakdown in the Northern Hemisphere. Its relative isolation and self-sufficiency are major draws.
Rastislav Sedlak SK Shutterstock
UAE – 5,000 extra millionaires
If you're wondering where most of those Turkish millionaires have gone, look no further than the United Arab Emirates (UAE), which has welcomed a large proportion of them. In total, the federation of seven emirates enticed 5,000 millionaire migrants last year.
UAE – 5,000 extra millionaires
A low tax structure is the principal attraction, but the country rates highly for its advanced infrastructure, excellent educational and job opportunities, low crime rates and lack of terror attacks, especially in relation to other countries in the Middle East.
Canada – 8,000 extra millionaires
The Canadian government rolled out the red carpet for millionaire migrants and introduced a new Immigrant Investor Venture Capital (IIVC) scheme in 2015, offering citizenship to extra-wealthy foreign nationals who pump money into the country.
Canada – 8,000 extra millionaires
Needless to say, the scheme plus factors ranging from Canada's high standard of living to its fair taxation system have lured millionaire migrants from far and wide, particularly Chinese high-net-worth individuals, who have been flocking to the city of Vancouver.
USA – 10,000 extra millionaires
The quintessential land of opportunity, the United States is a natural choice for foreign millionaires who are looking to migrate. The rich of the world are attracted by America's high standard of living and economic stability.
USA – 10,000 extra millionaires
The US pulled in 10,000 foreign millionaires in 2016, up 43% from the previous year. Despite uncertainties surrounding the Trump administration, analysts expect the country to continue attracting high net-worth migrants for the foreseeable future.
Australia – 11,000 extra millionaires
Australia tops the list of countries that welcomed the most millionaire migrants in 2016. Last year, 11,000 high net-worth individuals made the Southern Hemisphere country their home; an increase of 38% compared to 2015.
Australia – 11,000 extra millionaires
The vast majority of rich migrants hail from China. These well-heeled citizens are drawn to Australia's high standard of living, relative freedoms and lack of corruption, and the country has introduced a significant investor visa program to attract them. In total, millionaire migrants have moved $3.8 billion (£3.1bn) into Aussie assets since the launch of the program in 2012.