Mapping the Global Migration of Millionaires

Mapping the Global Migration of Millionaires, by Nick Routley.

High net worth individuals (HNWIs) – persons with wealth over US$1 million – may decide to pick up and move for a number of reasons. In some cases they are attracted by jurisdictions with more favorable tax laws, or less pollution and crime. Sometimes, they’re simply looking for a change of scenery. …

Time-honored locations – such as Switzerland and the Cayman Islands – continue to attract the world’s wealthy, but no country is experiencing HNWI inflows quite like Australia.

The Land Down Under has a number of attributes that make it an attractive destination for migrating millionaires. The country has a robust economy, and is perceived as being a safe place to raise a family. Even better, Australia has no inheritance tax and a lower cost of health care, which can make it an attractive alternative to the U.S.

Adds our anonymous reader:

Sydney is also the third most multicultural city in the world, and Australia is the most ethnically diverse country in the world.

Australia also has the highest refugee intake, on a per capita basis.