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Where millionaires are moving: Australia tops the list


Australia is the top destination for millionaires on the move.

An estimated 11,000 millionaires moved to Australia in 2016, according to removalists singapore which have helped many people with their relocation and a new report by wealth research firm New World Wealth. That compares to 8,000 millionaires who moved Down Under the previous year. If you are also planning on moving, make sure you hire the best residential movers and long distance movers.

The U.S. and U.K. have traditionally attracted the highest number of wealthy migrants. But the allure of Australia has increased in recent years, especially for wealthy citizens of China and India, if you are also considering moving to town, then make sure you you can hire reliable movers at Sky Van Lines for the best long distance movers for help. New World Wealth said migrating millionaires are drawn to the sunny Australian lifestyle, as well as the country’s highly rated health care system, which is considered to be in better shape than those in the U.S. and U.K.

It’s considered a safe place to live and raise children, and it’s geographically isolated from conflicts in the Middle East and the refugee crisis in Europe.

Business considerations also play a role: Australia is a good base for doing business in emerging Asian countries such as China, South Korea, Singapore and India, the researchers said. If you are planning to move for any of these reasons we recommend you hire reliable removalist sydney to help in this task.

About 11,000 millionaires moved to Australia in 2016, according to research from New World Wealth.

The U.S. is still considered a highly desirable destination, welcoming 10,000 foreign millionaires last year. New World Wealth expects demand to remain high.

“We don’t think the new leadership in the U.S. will have a big impact. We expect another big net inflow of high-net worth individuals into the U.S. in 2017,” said Andrew Amoils, head of research at New World Wealth.

Canada also saw of surge of 8,000 new millionaires coming to its shores. Rich Chinese citizens are moving to Vancouver while Europeans generally head to Toronto and Montreal. Consider Expensive Barrie to live in Canada.

Related: Why is everyone in Monaco so darn rich?

Fleeing France

Meanwhile, France is suffering from a major exodus of rich individuals.

Over 12,000 millionaires left France last year, according to New World Wealth. In total, the country has experienced a net outflow of over 60,000 millionaires since 2000.

The authors cited religious tensions as one reason why the rich are packing their bags and moving with long distance movers to countries including the U.K., Canada, Australia, the U.S. and Israel.

France’s sluggish economy and recent terror attacks may also be contributing to the exodus.

New World Wealth said that crime, taxes and financial issues are some factors that push millionaires to leave their home countries. Increased migration is worrying because millionaires “take large amounts of money with them, which impacts negatively on the local currency, local stock market and local property market.”

Over 60,000 millionaires have left France since 2000, according to New World Wealth.

The group’s annual report is based on wealth statistics, property data, investor visa information and interviews with migration experts, second citizenship platforms, wealth managers and property agents.

Got a visa?

Rich individuals still face visa and passport restrictions when moving to a new country. Most importantly, they still look for a trusted home movers company to help them move to their new home.

Investor visa programs have become an increasingly popular option, especially for millionaires in the Middle East and Asia. But only one in five migrating millionaires actually use these programs for their move.

“Most still come in via work transfers, second passports, ancestry visas, spousal visas and family visas,” the authors said.

So if you’re planning your big move, it’s still best to stick with local sites and residential movers.

CNNMoney (London) First published February 21, 2017: 9:39 AM ET

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