4,000 Indian millionaires shifted overseas |
India has seen the fourth-biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas. According to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country. The report however noted that the migration of super rich from China and India is not a "concern"as these countries are still producing far more new millionaires than they are losing. The report d added that "once the standard of living in these countries improves, several wealthy people are likely to move back.In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood at 6,000.On France, the report said, the country is being heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas. So, millionaire migration away from France will accelerate over the next decade as these tensions escalate.
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