India witnessed the second largest number of millionaire outflow globally after China with 7,000 high net worth individuals changing their domicile during 2017, 16 percent more than last year, according to a report.
According to the report by New World Wealth, 7,000 ultra- rich Indians shifted overseas in 2017. In 2016, the figure stood at 6,000, while in 2015 as many as 4,000 millionaires shifted base.
Globally, as many as 10,000 super-rich Chinese changed their domicile in 2017. Other countries that witnessed large high net worth individual (HNWis) outflows include Turkey (6,000), United Kingdom (4,000), France (4,000) and Russian Federation (3,000).
As per the migration trends, Indian HNWIs moved to the US, the UAE, Canada, Australia and New Zealand, while Chinese HNWIs moved to the US, Canada and Australia.
