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Very interesting chart, a lot will depend on the future political developments. It is not per se important to have the millionaire migration, more important for a country would be to have the millionaires bringing their money to the country. This is a function of relative attractivity, which again depends on political stability, prosperity, the assurance of a state of law and so on. I do not think that there will that much change in that context, since systems and cultures only change very slowly.

Australia is now leading the world in the most multi-millionaire migrants. There’s been a lot of focus on the impact of mass migration on housing demand. It’s worth also considering the impact of high-net worth migrants on driving price growth. Foreign direct investment can be very beneficial in driving economic growth - but we should be encouraging wealthy migrants to direct their money into productive or innovative assets that boost employment, not just parking it in residential property - where it just drives up the price of land.

The #JAPA syndrome is not unique to #Nigeria. The world’s top 5 economies including #China and #India have their millionaires migrating to countries with better social infrastructures and stable economies once these high networth individuals with more than one million net asset value achieve a comfortable financial status. If we look at the places where these millionaires move to, we would notice the countries that have most millionaires migrants that contribute to their new hosts’ economy tend to have very well structured and institutionalized environments. This does not necessarily translate to greater business opportunities due to the highly restrictive nature of these legalistic heavy countries. Case in point, a very average house 🏡 in the Silicon Valley belt would cost at least half a million USD for a typical nuclear family of 4 people and 2 cars with 10.75% sales tax on everything purchased plus state and federal taxes mandated with a combined cost of almost half of a professional earner’s yearly income. This is hardly a condusive environment for business development. So why do millionaires elect to migrate to an unfamiliar territory anyway? How can we create a more attractive gateway, in the case of #Africa, for Africans to stay put and contribute to the local economies and for the diaspora to repatriate and own thriving businesses while creating jobs? From the article - High Net Worth Individuals (HNWIs) traveled less than usual during the pandemic, and as a result their migration numbers trended downwards. But millionaires and billionaires are on the move again and it is anticipated that 122,000 HNWIs will move to a new country by the end of (2023). Against a backdrop of multiple crises that are keeping volatility at peak levels — from wars and armed conflict, to climate change, to economic and political turmoil — there is a growing interest among affluent global citizens in every part of the world to explore alternative places to live and acquire additional residences and citizenships to protect their families from risk and open up new opportunities. Some insights within Africa The most popular program South Africans have enquired about in 2023 is the Portugal Golden Residence Permit Program with a cost-effective real estate investment options starting from EUR 280K, which received 28% of the enquiries. The reasons for favoring #Portugal revolve around only 7 days a year physical presence requirement, citizenship after 5 years, and the climate-friendly, safe, and secure environment that the country has to offer. #Namibia’s Residence by Investment offering, which is entirely real estate-linked, is close behind in 2nd place with 24% of enquiries. Caribbean citizenship by investment options are also popular, particularly the St. Kitts and Nevis Citizenship by Investment Program which came in 3rd with 17%, followed by the UK Innovator Program and the #Mauritius Residence by Investment Program, which both received 15% of enquiries.

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Mapped: The Migration of the World’s Millionaires in 2023 🌏️ Mapping the Migration of the World’s Millionaires 2023 Just like everyone else, High Net Worth Individuals (HNWIs) traveled less than usual during the pandemic, and as a result their migration numbers trended downwards. But millionaires and billionaires are on the move again and it is anticipated that 122,000 HNWIs will move to a new country by the end of the year. Henley & Partners’ Private Wealth Migration Report has tracked the countries HNWIs have moved from and to over the last 10 years; this map showcases the 2023 forecasts. In this context, HNWIs are defined as individuals with a net worth of at least $1 million USD. https://lnkd.in/ezEW4jGV

What are your thoughts on the potential influence of millionaire migration on the cost of living in these countries? How might the influx of wealthy individuals impact the economic landscape? Let's dive into this discussion! #millionaires #billionaires #immigration #emigration #UAE #Dubai #Singapore #Australia

The migrations of millionaires, often guided by factors such as: 1. **Economic Opportunities:** Millionaires frequently migrate in pursuit of new economic opportunities. Cities with booming financial sectors or emerging markets become magnets for those seeking to diversify investments or establish business ventures. 2. **Tax Considerations:** The allure of favorable tax regimes often drives millionaires to relocate. Some seek jurisdictions with lower tax rates or beneficial tax structures to optimize their wealth management and financial planning. 3. **Quality of Life:** A high quality of life is a significant draw for millionaires. Cities offering top-tier amenities, healthcare, education, and cultural experiences become attractive destinations for those seeking a comfortable and enriching lifestyle. 4. **Political Stability:** Political stability plays a crucial role in attracting millionaire migrants. Regions with stable governments and conducive business environments are preferred, as they offer a secure foundation for wealth preservation and growth. 5. **Education and Opportunities for Offspring:** The pursuit of excellent education and opportunities for their children often leads millionaires to migrate. Cities with prestigious schools and universities become hubs for families seeking a well-rounded education for the next generation. 6. **Global Citizenship and Mobility:** Millionaires often value the flexibility of global citizenship and mobility. Acquiring residency or citizenship in multiple countries allows them to navigate international business, travel, and lifestyle more seamlessly. 7. **Asset Diversification:** Diversifying assets across different geographic locations is a common strategy among millionaires. This diversification can involve real estate investments, offshore accounts, and other financial instruments spread across various regions. 8. **Cultural and Lifestyle Preferences:** Some millionaires migrate based on personal preferences for certain cultures, climates, or lifestyles. Coastal cities, cultural hubs, or serene countryside locations might appeal to those seeking a specific ambiance. 9. **Networking and Business Connections:** Building and expanding business networks is crucial for many millionaires. Migration to cities with vibrant business communities and networking opportunities can enhance their professional connections and open new doors. 10. **Security and Privacy:** Concerns about security and privacy often influence migration decisions. Some millionaires choose locations with robust security measures and discreet environments to safeguard their wealth and personal information. What are your thoughts?

Millionaires go where money is. What specific factors do you consider have contributed to the high rate of millionaire outmigration from India and China in recent years? #India #China #millionaires