Turkey among top five countries which see most millionaire outflow in 2016: Report
There were a total of 82,000 millionaire migrants that left for greener pastures in 2016, with Turkey one of the five countries witnessing the greatest such outflow, according to a fresh survey by New World Wealth.
Global wealth migration is accelerating and approximately 82,000 millionaires (HNWIs) migrated in 2016, compared to just 64,000 in 2015, according to the report, according to Visual Capitalist.
France, China, Brazil, India and Turkey saw the highest number of outflows last year.
Among the top five, Turkey experienced the highest increase in outflow last year compared to 2015. While some 1,000 millionaires left the country in 2015, this figure rose to 6,000 in 2016, representing a 500 percent year-on-year increase.
France topped the list for a second straight year, as rich people dodge conditions that they consider to be adverse, according to the report.
France has rising religious tensions and populism, but it also has a tax system that is not particularly friendly to the ultra-rich, it said.
China and India both continue to have net outflows of millionaires, but two of the more interesting countries on this list were Brazil and Turkey, according to the report.
In 2016, Australia was the number-one destination for millionaire migrants, with the United States and Canada being close behind.
Millionaire immigration to New Zealand also doubled, while the United Arab Emirates remained a popular location for the wealthy in the Middle East.