China, India and the United Kingdom are the top three countries expected to see the largest outflow of high-net-worth individuals (HNWIs), people with assets of $1 million or more, in 2023, according to a study by the Henley & Partners international consulting firm
MOSCOW (Pakistan Point News / Sputnik - 13th June, 2023) China, India and the United Kingdom are the top three countries expected to see the largest outflow of high-net-worth individuals (HNWIs), people with assets of $1 million or more, in 2023, according to a study by the Henley & Partners international consulting firm.
The largest outflow of HNWIs (13,500) will take place in China, followed by India (6,500), the study found.
The UK is third on the list, with 3,200 wealthy individuals expected to leave the country in 2023.
Russia came in fourth. However, unlike the UK, where the number of HNWIs leaving the country has almost doubled since last year, Russia's prediction indicator has improved by almost 200%.
With 5,200 HNWIs expected to arrive in 2023, Australia is the most attractive country for wealthy people, according to the consultancy.
It is followed by the United Arab Emirates (4,500) and Singapore (3,200), the survey showed.
The United States is the fourth most attractive country for rich individuals, however, there has been a decline in the inflow of HNWIs to the country in the recent years. The consultancy forecasts that 2,100 HNWIs will arrive in the US in 2023, which is five times fewer than before the pandemic.
The Times reported in January, citing data from Henley & Partners, that the UK is losing its status as a "hub" for millionaires, who are now leaning toward the Middle East and Asia. The company said that 1,400 people with a fortune of more than $1 million had left the UK in 2022. The trend began in 2016 after the Brexit vote, the consultancy said.
