Why people are leaving places like the UK, Brazil, China, India, and Russia? And why they are moving to places like Dubai?
Why people are leaving London, Sao Paulo, or Moscow?
I examined the latest migration trends to find out where rich expats are moving to (and where these rich are leaving from)! We'll explore the reasons behind this mass exodus, and maybe have a hint of a place among the best countries to move to in 2024.
Curious about why the rich are flocking to Dubai or why people are leaving Hong Kong? This is a must-watch.
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💡 TOPICS IN THIS VIDEO 💡
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🔎 EXCERPT 🔎
Why are successful professionals and retirees packing their bags and leaving certain countries? Which countries rich people are fleeing? And how can their stories be an alert for you?
Recently I came across very interesting data on the countries with the biggest exodus of millionaires. In the top 7, two of them are very curious cases. Today you will discover why people are leaving these countries, and where they are moving to.
Let’s jump straight to the ranking.
Russia
In the first place, the country that lost more millionaires, according to a report from Henley & Partners, is Russia. According to Henley & Partners, Russia had more than 101 thousand high-net-worth individuals.
What is a high net-worth individual? They are the residents with a wealth of USD 1 million or more in investments, not including their own homes. But in a single year, 15 thousand of them left the country.
That is not a surprise at all since this happened already after the invasion of Ukraine and all the sanctions. The fear of asset seizures and increased taxation due to the war effort has made staying in Russia less appealing for the wealthy. In fact, since 2022, many billionaires like Andrei Baronov, Vasily Anisimov, or Ratmir Timashev have even renounced their Russian citizenships and adopted the citizenship of other countries like Cyprus.
