Rich People on the Move

It isn’t only the poor and oppressed who move to other countries. The super-rich are migrating too, according to the «Wealth Report» published by Knight Frank, the U.K.-based real estate consultancy. Some 10,000 millionaires (HNWI) have left France over the past twelve months alone. The country is facing presidential elections with the worrying prospect of a right-wing extremist grouping taking power in one of the biggest countries in Europe. A victory for Marine Le Pen has the potential to upset the foreign currency with the euro coming likely under pressure. Italy and Spain are equally facing a drain of very rich citizens. Millionaires in China, Russia, India and Brazil are also eager to leave, making clear that assets aren’t easily to be found in emerging markets either. The two big Australian cities of Sydney and Melbourne, Tel Aviv and Dubai are four of the places with strong inward moves of rich people.

— source


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