Can you believe almost half of wealthy Chinese are planing to emigrate within the next five years? That’s what a new Barclays survey says, according to the WSJ.
Among the 2,000 high net-worth individuals who took the survey and have their total net worth over $1.5 billion, 47% of the Chinese said they plan to relocate, making China the No. 1 “exporting” country. Singapore is N0. 2, with 23% of its wealthy people planing to emigrate. The U.K. (20%) is the third, followed by Hong Kong (16%), then the U.S. (6%), and India (5%) in the end.
The WSJ listed the following top reasons given by the Chinese for their moving abroad:
- Better educational and employment opportunities for children (78%)
- Economic security and desirable climate (73%)
- Better health care and social services (18%)
The top destinations for the Chinese include Hong Kong and Canada, while China is the most popular choice for Singaporeans.