The migration patterns of the world’s millionaires

Here are the top destinations for the world’s millionaires:

According to a report from New World Wealth, the U.K. was the top destination in the world for migrating millionaires over the past decade. Between 2003 and 2013, the U.K. had a net inflow of 114,100 millionaires (people with $1 million or more excluding their primary residence)…

Singapore, with its tax-friendly policies and security, ranked second in attracting the world’s wandering wealthy. It gained 45,000 millionaires between 2003 and 2013. The U.S. ranked third, gaining 42,400 millionaires.

So where were all these millionaires moving from? Mostly China. According to the report, China had a net outflow of 76,200 millionaires during the 10-year period. India was the next largest loser, with a net outflow of 43,400, followed by France, Italy and Russia…

The study said that overall, London has the most millionaires of any city, with 339,300. New York ranks second with 300,100, followed by Tokyo (226,500) and Singapore (225,000).

Follow the money. Even as these millionaires then move to certain cities, there are certainly patterns within these cities as to where they move and with whom they associate. All of these top urban destinations for millionaires have strong finance sectors as well as some of the world’s most expensive housing even as some of them also have relatively poor areas, sizable immigrant populations, and numerous social problems within a short distance from the residences of some of the wealthiest people in the world.

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