Breaking News
Home / Siasat / Some Indian millionaires may migrate to this country in 2024

Some Indian millionaires may migrate to this country in 2024

Around 4,300 Indian millionaires are expected to migrate from India in 2024, according to a report by investment migration consultancy Henley & Partners.

The top most preferred destination to move outside India is the United Arab Emirates (UAE).

“India continues to lose large numbers of millionaires, especially to the UAE. However, in our view, these outflows are not particularly concerning as India continues to produce far more new high-net-worth individuals (HNWIs) than it loses to emigration,” the report stated.

MS Education Academy

“Furthermore, the bulk of the millionaires who leave India tend to retain business interests and second homes in the country, which is a positive sign.”

According to the report, ‘millionaires’ and ‘HNWIs’ are individuals with a liquid wealth of 1 million US dollars ( Rs 8.34 crore) or more.

The report noted that India stands third in the millionaire migration globally after China and the United Kingdom.

In 2024, 128,000 millionaires worldwide are expected to migrate to new countries, with the UAE and the US being the top destinations.

The UAE is expected to witness a record net inflow of 6,700 millionaires in 2024.

In 2023, around 5,100 Indian millionaires relocated abroad.

Why do millionaires migrate?

High-net-worth families choose to migrate for a range of reasons, including:

  • Work and business opportunities
  • Lifestyle factors, including climate, nature, and scenery
  • Schooling and education opportunities for their children

Check Also

Rs 3 cr worth marijuana caught at Telangana-Karnataka border

Bidar: In a major operation near the Bhangur interstate check post, the Bidar district police …

Leave a Reply

Your email address will not be published. Required fields are marked *