Approximately 108,000 millionaires moved to new countries last year. Their top destinations are Australia, the US, Canada, and Switzerland.
at a higher rate than ever, Bloomberg reported, often for tax purposes or to escape a country's economic or political tensions., compared to 95,000 in 2017, according to a study by New World Wealth . The global market research group ranked the flow of millionaires into 12 countries by dividing the number of new millionaires by the total number of high-net-worth individuals already living in the country.," Reaz H.
Many wealthy foreigners are likely drawn to Australia for its low crime rate, the lack of an inheritance tax like in the US, and the country's overall safety, according to the NWW report. Most high-net-worth individuals are English-speaking, according to NWW, which explains why the top three countries are primarily English-speaking.
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