Are China’s millionaires packing their bags? ...Middle East

What Happened: China’s millionaires are on the move. According to the Henley Private Wealth Migration Report 2023, 10,800 high-net-worth individuals (HNWIs) migrated from China in 2022, the biggest net outflow since 2013. This trend is set to accelerate with a net outflow of 13,500 HNWIs forecast for 2023. So, where’s everyone going? Singapore, Canada, the US, Australia, the UK, the UAE, and Europe are popular relocation destinations. Recommended ReadingWhat Canada’s Ban On Foreign Home Buyers Means For Chinese Emigrants’ Pursuit Of The ‘Vancouver Dream’By Crystal Tai The Jing Take: This exodus may only represent a fraction of the millionaire population, but Andrew Amoils, Head of Research

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