The recent data shows that more and more Indians prefer to leave their country after coming in the category of Millionaires. What is the reason behind this shift? Why do rich Indians not live in the country? There are several reasons which already point towards India being a country with the third-highest net outflow of millionaires. The current stats show that China is currently at the first number. It means Chinese millionaires don’t want to live there after they earn a good income. 15,200 Chinese millionaires are projected to move out of the country.
Around 4,300 Millionaires Prefer To Move Out From India In 2024
A lot of Millionaires don’t prefer to live in their country after achieving a certain amount of success. There can be different reasons like the preferences towards other countries or getting better facilities in other countries. Recent reports mention that there are around 4,300 millionaires who prefer to leave India in 2024. The projections if gone right will make India a country with the third-highest net outflow of millionaires in 2024. Apart from that, China is currently at first number with 15,200 millionaires preferring to move out of China in 2024.
United Kingdom is expected to be in the second position with 9,500 millionaires in the UK preferring to move out of the country. After that comes India at a projection of 4,300 millionaires preferring to move out of the country. However, the number decreased in comparison to the previous year 2023. It is a good sign. The data shows that India had 5,100 millionaires who went to live in other countries in 2023. People migrate as per their preferences. Different people choose different countries for migration. Thus, the projection of total migrants for the year 2024 is 1.28 Lakh millionaires.
Another question might arise in your mind where do these millionaires prefer to settle? According to the details, two countries are the top preference of these millionaires. The United Arab Emirates is on top followed by the United States. While the UAE is at the top, the country put all its efforts into grabbing the attention of the millionaires. Why do people prefer to shift to the UAE? We have seen several Indian celebrities as well booking their flats in the country.
The reason behind the business class and luxury lifestyle benefits that UAE focuses on providing them. As of now, the 2024 projections state that around 6,700 millionaires are preferring to shift to UAE. There are questions against the scenario of whether India is having a concern about the same. The answer is not much because the country is also producing many more new millionaires at the same time.
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