November 16, 2018
Countries attracting the wealthy such Australia tend to be very healthy and normally have low crime rates, good schools and good business opportunities.
Australia is currently attracting more high net worth individuals than any other country in the world, according to New World Wealth’s 2018 Global Wealth Migration Review.
In 2017, Australia topped the world with a net inflow of 10,000 HNWIs. Second was the US with 9,000.
Popular places for them to move to in Australia included Sydney, Melbourne, Gold Coast, Sunshine Coast, Perth and Brisbane.
The latest study on the UK cites among possible reasons for the exit of the wealthy as new taxes making it more expensive and complicated for foreigners to buy homes in the UK.
“London was obviously a hotspot for migrating HNWIs for many years,” says the report.
“However, this trend appears to have changed over the past couple years as migrating HNWIs now prefer moving to other international cities such as Sydney, Melbourne, New York, Geneva and San Francisco.
Source: Business Insider Australia