Henely Private Wealth Migration Dashboard 2023, which monitors wealth and investment migration trends globally, predicts that 6,500 high net worth people (HNWIs) would depart India in 2023, down from the net outflows of 7,500 millionaires individuals in the previous year.
The term “millionaires” “high-net-worth individuals,” or “HNWIs” refer to those with investable wealth of USD 1 million or more.
The Prediction places china at the top of the list, with 13,500 chinnese millionaires predicted to leave the nation compared to the outflow of 10,800 persons in 2022.
India is home to an estimated 344,600 HNWIs compared to China’s total of 780,000 HNWIs
In 2023, 3,200, 3,000, and 1,200 HNWIs are predicted to leave the UK, Russia, and Brazil respectively.
The forecasted HNWIs departure from the United Kingdom is expected to be twice as large as the one from previous year, when there was a net evacuation of 1,600 millionaires.
The US, Australia, the UAE, Singapore and Switzerland are projected to be the JNWIs top choice for travel in 2023, According to the Henley Private Wealth Migration dashboard. 5,200, 4,500, 3,200, 2,100, and 1,800 respectively are anticipated to enter these nations.
The information was released on Tuesday and was provided by New World wealth intelligence company. it cover important nations in five global regions: Africa, the Americas, Asia Pacific, Europe and CIS and the Middle East.
The UAE drops to second position after its record-breaking influx in 2022, but it is still anticipated to enjoy an impressive net arrival of 4,500 new millionaires this year.
Australia is forecast to draw the greatest net inflow of HNWIs in 2023 at 5,200. With a net inflow of 3,200 HNWIs, the third-highest on record for Singapore, it is followed by the US with an anticipated net inflow of 2,100 millionaires, according to the report.
“In general, wealth movement tendencies appear to be returning to pre-pandemic patterns this year, with Australia reclaiming the top rank for net inflows as it did for five years prior to the Covid epidemic and China experiencing the largest net outflows as it has done every year for the past ten years. The US and the UK, two erstwhile top wealth generators, are significant exceptions,” stated Steffen.
