18th September 2014

Report Suggests Half of China’s HNWIs Want to Leave

A report by Barclays has suggested that nearly half of China's wealthiest people are considering leaving their home country.

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Report Suggests Half of China’s HNWIs Want to Leave

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 According to the survey by the British bank, many high net-worth individuals in China are looking to developed markets overseas to secure a better life for their families.

With many saying they are considering moving within the next five years, the driving force is all about getting access to better education and jobs for their children.

Canada and Hong Kong Favoured

Europe and the US are popular destinations, according to the Barclays Wealth Insights report, though Hong Kong and Canada were singled out as the two most attractive. London, New York and Singapore were also favoured by many.

Surveying over 2,000 investors and HNWIs with a total net worth of $US1.5 million or more, the report also found that globally, 29% are looking to relocate abroad. However, this is considerably shy of the Chinese figure of 47%.

The least likely to move were those living in India and the US, with just 5% and 6% respectively.

Analysing the report, Barclays said that the entrepreneurial spirit and greater appetite for risk that the wealthiest often display increases the likelihood that they will move abroad to look for opportunities to exploit.

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