3,500 millionaires to leave India in 2025; wealth exodus of $26 billion
Wealth migration is a part of globalisation concept. When people migrate they also take their wealth along.
Henley and partners is a globally integrated citizenship and advisory firm, which publishes a wealth migration report on their website every year.
It tracks down the number of millionaires that migrate every year around the globe. According to the report this year 142,000 millionaires would leave their country globally and settle into another.
Why millionaire migration is significant
According to the website, wealth migrating matters because it is a vital source of forex revenue, new businesses open in the country, helps create jobs in that country, boosts local stock market through equity investment.
As per their report, 3,500 millionaires would migrate out of India and taking their 26 billion dollar worth of wealth abroad.
The number might be slightly lower than last year’s 4,800 hundred, but still is a lot for the country.
There could be multiple reasons behind it, the country’s not-so–good infrastructure, financial-growth opportunities, and the high taxes.
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