Australia has seen an influx of 7260 millionaires in the past year – it is the chosen country in the world for the most millionaires, pipping the more traditional destinations like Britain and America.
This is according to the New World Wealth’s 2018 Global Migration Review report that states nearly 10,000 millionaires or High Net Worth Individuals (HNWIs) moved to Australia in 2017.
“Australia’s superior growth over the past decade has also no doubt had an impact on confidence and business opportunities,” says the report.
“Over the past 10 years, total wealth held in Australia has risen by 83% compared to 20% growth in the US. As a result, the average Australian is now significantly wealthier than the average US citizen, which was not the case 10 years ago.”
Well over 80% of these millionaires come from China – followed by Hong Kong, Malaysia, South Africa and then Vietnam.