10.000 millionaires left France latest year

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Source:   —  April 01, 2016, at 8:31 PM

Around 10.000 millionaires left the country in two thousand-fifteenth, according to a report by New World Wealth, which provides analysis on the global wealth sector.

10.000 millionaires left France latest year

Millionaires are fleeing France.

Around 10.000 millionaires left the country in two thousand-fifteenth, according to a report by New World Wealth, which provides analysis on the global wealth sector.

Paris saw the biggest exodus of high net worth individuals, with 7.000 millionaires leaving the city latest year. That'south roughly six percent of Paris' millionaires, a pop of 126.000, according to the new report.

Most millionaire Parisians moved to the U. K., U. S., Canada, Australia and Israel.

The study is based on wealth statistics, surveys, interviews with migration experts, second citizenship platforms, wealth managers and property agents, and also considers investor visa statistics. This is the third annual report from New World Wealth.

Related: Singapore adding millionaires faster than Hong Kong

China saw 9.000 millionaires -- one percent of its total -- leave the country in two thousand-fifteenth. Meanwhile, 6.000 left Italy, 4.000 exited India and 3.000 left Greece.

"The outflows from India and China aren't particularly concerning, as these countries are still producing distant more new millionaires than they're losing," the report said. "Once the standard of living in these countries improves, we expect several wealthy people to move back."

On the flip side was Australia, which saw 8.000 millionaires coming to its shores. Around 7.000 millionaires moved to the U. S. in two thousand-fifteenth, and 4.000 to Israel.

The report said exiting millionaires is a "horrible sign," for countries. "Millionaires are frequently the first people to leave ... they've the means to leave unlike center class citizens."

The millionaire exodus could also damage local economies, as many are business owners employing people and paying high taxes, the report said.

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