5,000 millionaires left India last year

  1. According to the AFRASIA Bank Global Wealth Migration Review 2019, about 5,000 Indian High networth Individuals(HNWI) has migrated from India during 2018.
  2. The report has said that as per data since 2008 India has been among the world’s top countries in wealth creation.India will also be the 4th largest wealth market by 2028, after US, China and Japan, and ahead of the UK and Germany.
  3. 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%.But, 48% of India’s wealth is concentrated in the hands of HNIs against a global average of 36%.
  4. The report has pointed out that India is 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.
  5. 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 the US and Canada.

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