"Rich People Are Leaving Abroad"... 15,000 Russian Millionaires Expected to Escape
[Asia Economy Reporter Na Ye-eun] It is projected that more than 15,000 millionaires will leave Russia this year.
On the 13th (local time), The Guardian reported, based on projections from the global migration brokerage firm 'Henley & Partners,' that "Russia's wealthy are increasingly emigrating abroad as they turn their backs on Vladimir Putin's regime following the Ukraine war."
The 15,000 figure corresponds to 15% of Russians with assets exceeding $1 million who are prepared to migrate.
Andrew Amoils of New World Wealth, an economic information company involved in Henley & Partners' statistics production, said, "Millionaires are leaving Russia in droves."
He added, "The number of wealthy individuals leaving Russia has steadily increased significantly over the past decade," noting that "this could be a sign of the crisis Russia is facing." Historically, before the collapse of major countries, there has been a continuous outflow of wealthy individuals capable of emigrating abroad.
Ukraine, which is experiencing war, also shows the highest outflow of high-net-worth individuals (HNWI) relative to its population. The Guardian reported that 2,800 millionaires are leaving Ukraine this year, accounting for 42% of Ukraine's HNWI.
While wealthy individuals worldwide have mainly tended to migrate to the United States or the United Kingdom, this year the United Arab Emirates (UAE) is expected to take the top spot as the leading destination for wealthy immigrants due to its active immigration promotion policies.
It is projected that 4,000 HNWIs will migrate to the UAE this year. Following are Australia with 3,500, Singapore with 2,800, and Israel with 2,500 HNWIs expected to migrate.
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Additionally, so-called '3M' global resort cities?Malta, Mauritius, and Monaco?are also expected to attract a large number of millionaire immigrants.
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