Gulte News
Nearly 4,300 millionaires are likely to leave India this year, according to a report by Henley & Partners, an international investment migration advisory firm.
Despite a significant number of Indians emigrating each year, the country still continues to produce high numbers of new high-net-worth individuals.
However, many of the millionaires have business interests and second homes in India, which contributes positively to the local economy.
The report said that emigration is not a matter of concern as long as the country continues to produce more HNWIs. The HNWIs retaining their business interests and second homes in India is a positive sign to the economic and business climate o the country.
Many of the Indian millionaires are opting for UAE.
At the same time, the report said that over 1,28,000 of the world’s millionaires are likely to migrate to a new country in 2024.
USA and UAE are on the top of the list of destinations.
Countries losing millionaires is a matter of concern which means there is a problem in that country, the report said.
Big businesses like Microsoft, Tesla have a spillover effect on middle class. They create thousands of hefty payment jobs, and subsequently, have an impact on the country’s economy.
Tags Indian Millionaires
