Salient to Investors:
- Barclays said 47% of China’s wealthy are planning to move abroad within 5 years, versus 23% in Singapore, 16% in Hong Kong, 20% in Britain, 6% in America and 5% in India.
- 78% named bettering children’s education and their future job prospects as their main reasons, 73% said a better economic situation, 18% cited health care and social services.
- The US and Europe were the favored destinations.
- Liam Bailey at Knight Frank said most ultra-high net worth individuals in China are making money in China right now, so, for business reasons, they need to be relatively close.
Read the full article at http://www.businessweek.com/articles/2014-09-15/almost-half-of-chinas-rich-want-to-emigrate#r=rss
Click here to receive free and immediate email alerts of the latest forecasts.