Thursday, July 30, 2015

Chinese and Indians toward London

A recent report by New World Wealth and LIO Global suggest the current situation of immigration of wealthy people.

Second citizenship & the migration of HNWIs 2000-2014

According to this report, the immigration of wealthy people has been accelerated for this decade. It is not surprising, since High-Net-Worth Individuals (HNWI) can choose their residence to gain maximum benefit from their residential country and avoid the risk of turmoil, in addition to expensive taxation as I wrote just yesterday.

My past entry: Thomas Piketty and Capital in the 21st Century

The result of this survey suggests that the UK is the most popular exit for HNWI. There is 125,000 net inflow of HNWI between 2000-2014, double as the US. Singapore, Australia, and Hong Kong are also popular. A common character of these countries is the sophisticated business environment. It is also advantageous that English language is available there.

Hindustan Times: India, China face exodus of high net worth citizens: Report

The UK has developed the infrastructure of financing. While it is popular for European people, Singapore attracts Chinese because of its location and language. And land costs there are incredibly increasing.

On the other hand, China and India are the countries with the highest number of HNWI who left the home country. As these countries have a massive population, this result is quite natural. In addition, China and India are holding a political risk. HNWI can be afraid their estate being got rid of by the government or being destroyed by the riot.

As well as security concerns, education of children is also cited frequently as the reason for leaving the home country. In this sense, the UK government takes enthusiastic leadership to improve the level of education.

I think immigration will be one of the keywords in the 21st century. It is not limited to wealthy people. Many refugees reach EU from the Middle East for surviving. The development of transportation and Internet technology, and rapid sequential spread of information globally has made the world narrower. Shortly, people who do not like their own nationality will quickly abandon it. We can choose our lives. And each government has to construct attractiveness for not only domestic people but also immigrants, to maintain the shape of the nation.

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