6500 millionaires can leave the country, 7500 rich had left India in 2022

In the year 2023, the exit of millionaires from China can be 13,500. There could be an exit of 3,200 HNIs in the UK and 3,000 millionaires in Russia. Twice as many people can leave the country from the UK this year than last year.

There may be a decline in the number of millionaires leaving the country. This shortfall can be more than 13 percent and if compared to last year, 1000 less crorepatis will leave the country. Even after that the number of such people can be 6500. According to the Henley Private Wealth Migration Report 2023, India is expected to see an exodus of 6,500 high-net-worth individuals in 2023, which is believed to be the second largest projected outflow globally. The report states that the net exit numbers are expected to come down to 6,500 in 2023 as compared to 7,500 last year.

Most millionaires are leaving China

Talking about other countries, in the year 2023, the exit of millionaires from China can be 13,500. There could be an exit of 3,200 HNIs in the UK and 3,000 millionaires in Russia. Twice as many people can leave the country from the UK this year than last year. Last year 1600 millionaires took an exit from the UK. According to the statement of the report, Andrew Amoils, head of research at New World Wealth, said from India's point of view that these outflows are not of particular concern as India produces far more new millionaires than migrates.

As it is being seen for the last decade that every year millionaires are migrating to China. Amoils said that general money growth in China has been slowing in the past few years, which means that recent outflows may be more damaging than usual. China's economy grew strongly from 2000 to 2017, but since then there has been no increase in money and the number of millionaires in the country.

Which countries are welcoming millionaires

Australia is all set to welcome the most millionaires. In the year 2023, 5,200 HNIs can move towards this country. There could be 4,500 new millionaires entry in UAE this year. There could be 3,200 millionaires in Singapore and 2,100 millionaires in the US. 1800 HNIs can move to Switzerland. After this, 1,600 HNIs can go to Canada. These countries are followed by Greece (1,200), France (1,000), Portugal (800), and New Zealand (700). Israel is predicted to drop out of the top 10, with the net inflow of millionaires almost halving this year compared to 1,100 in 2022.