Wealth Exodus: 4,300 Indian Millionaires Set to Migrate Abroad in 2024

According to a report by Henley and Partners, an international investment migration advisory firm, 4,300 millionaires are expected to migrate from India to foreign countries in 2024. India ranks third in terms of expatriate millionaires, following China and Britain. The report predicts that 128,000 millionaires worldwide will leave their home countries this year, with 15,200 millionaires leaving China and 9,500 leaving Britain.

The majority of these millionaires are choosing to immigrate to the UAE. The UAE’s appeal to Indian millionaires includes no income tax, the golden visa program, and a luxurious lifestyle. This year, 6,700 millionaires are expected to move to the UAE. The United States is the second most popular destination, with 3,800 millionaires projected to relocate there. Singapore ranks third with an expected arrival of 3,500 millionaires, followed by Canada and Australia. The primary reasons for millionaire migration include better education for children, improved healthcare, safety, financial security, tax relief, and more business opportunities.