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NEW
WORLD
WEALTH

Millionaire migration in 2015

Publication date: March 2016

Millionaire migration in 2015
© New World Wealth. This report is a licensed product and is not to be photocopied.
NEW
WORLD
WEALTH

City migration

Cities with biggest inflows of millionaires
The following cities had the biggest net inflows of millionaires (HNWIs) in 2015.

Cities ranked by millionaire inflows, 2015

Country Inflow of millionaires in 2015 Millionaires, 2015 % added
95 400 4%
Sydney 4 000 66 800 4%
29 000 6%
Melbourne 3 000 42 000 5%
129 000 2%
Tel Aviv 2 000 25 300 8%
19 600 5%
Dubai 2 000 28 000 4%

San Francisco 2 000

Vancouver 2 000

Seattle 1 000

Perth 1 000

Notes: Numbers rounded to nearest 1000.
Source: New World Wealth

Notes:
 Sydney, Melbourne and Perth all benefitted from millionaire inflows from China, Europe, the UK,
USA and South Africa. Other Australian areas such as the Gold Coast, Brisbane, Noosa and the
Sunshine Coast also experienced inflows.
 Tel Aviv had large inflows from Europe, especially France. Other Israeli cities such as Herzliya,
Jerusalem and Netanya also experienced inflows.
 San Francisco, Seattle and Vancouver all experienced large millionaire inflows from China and
South East Asia.
 Dubai saw strong inflows from North Africa (Egypt, Algeria, and Morocco) and Turkey.

Spotlight on London
London experienced a net inflow of around 500 millionaires in 2015. This was low compared to recent
years as a number of millionaires left the city in 2015 (around 3,000 came in and 2,500 left).

Many of the 2,500 that left moved to other parts of England, mainly to small towns in the London commuter
belt along the Thames (such as Maidenhead, Beaconsfield, Bray, Cookham and Marlow). A large number
also moved overseas, mainly to English speaking countries such as Australia, Canada, New Zealand and
USA.

Millionaire migration in 2015
© New World Wealth. This report is a licensed product and is not to be photocopied.
NEW
WORLD
WEALTH

Of interest, most of the millionaires that left London were UK born whereas almost all of the millionaires
that came into the city were from other countries.

This may be a trend that continues in future as several wealthy UK born people that we spoke to said
they were concerned about the way London and the UK in general had changed over the past decade or
so. Australia seems to be their preferred destination.

Cities with biggest outflows of millionaires
The following cities had the biggest net outflows of millionaires in 2015.

Cities ranked by millionaire outflows, 2015

Country Outflow of millionaires in 2015 Millionaires, 2015 % lost
126 000 6%
Paris 7 000 73 100 7%
134 000 2%
Rome 5 000 22 000 9%

Chicago 3 000

Athens 2 000

Notes: Numbers rounded to nearest 1000.
Source: New World Wealth

Destinations:

 Paris: most moved to the UK, USA, Canada, Australia and Israel.
 Rome: most moved to the UK and USA.
 Chicago: most moved to other parts of USA (internal migration).
 Athens: most moved to the UK and USA.

Why did they leave?

We interviewed migration experts and HNWIs to find out on their reasons for leaving. Notable reasons
that they mentioned included:

 Paris: Rising religious tensions, lack of opportunities.
 Rome: Economic slump, lack of opportunities.
 Chicago: Rising racial tensions, rising cr


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