Australia top choice for migrating millionaires

Australia has been named the top destination for migrating millionaires, according the 2019 Global Wealth Migration Review.

The report, carried out by consultancy New World Wealth, found that Australia had more than 12,000 millionaires move there in 2018 alone.

The country’s low crime rates, strong school system, first-class health system and growing economy are the main factors which in attracting rich migrants, the report says.

Sydney, Melbourne, the Gold Coast, the Sunshine Coast, Perth, and Brisbane were the most popular Australian areas for migrating millionaires.

The research found that a total of 108,000 millionaires that moved around the world last year. This was a 14 per cent increase from 2017.

The United States welcomed the second-most rich migrants, with over 10,000 settling in the States, while Canada was third, Switzerland fourth and the United Arab Emirates.

Notably, the report says that while the UK has consistently ranked as one of the biggest recipients of migrating millionaires in the world, many have chosen to move away from the UK in the last two years over Brexit uncertainty.

Top ten destinations for migrating millionaires

  1. Australia
  2. United States of America
  3. Canada
  4. Switzerland
  5. United Arab Emirates
  6. Caribbean Islands
  7. New Zealand
  8. Singapore
  9. Israel
  10. Portugal

Article published 1st May 2019