{"id":92720,"date":"2015-07-09T15:30:11","date_gmt":"2015-07-09T13:30:11","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=92720"},"modified":"2015-07-09T15:30:26","modified_gmt":"2015-07-09T13:30:26","slug":"where-in-the-world-are-sas-millionaires-going","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/92720\/where-in-the-world-are-sas-millionaires-going\/","title":{"rendered":"Where South Africa’s richest people are moving to"},"content":{"rendered":"

New data from New World Wealth shows where wealthy South Africans are spreading their roots as they leave local shores.<\/p>\n

According to the research firm, South Africa has one of the highest cases of high net worth individual (HNWI) outflows in the world.<\/p>\n

HNWIs refer to dollar millionaires – people with net assets of US$1 million or more excluding their primary residences.<\/p>\n

Between 2000 and 2014, approximately 8,000 HNWIs have abandoned the country.<\/p>\n

South African HNWIs tended to move to Australia, the UK, Cyprus, Mauritius, the USA and Canada, NWW said.<\/p>\n

Countries ranked by outflows, 2000 – 2014<\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n\n
Country<\/th>\nNet outflow of HNWIs<\/th>\nNo. of HNWIs, 2014<\/th>\n<\/tr>\n
China<\/td>\n91 000<\/td>\n608 500<\/td>\n<\/tr>\n
India<\/td>\n61 000<\/td>\n226 800<\/td>\n<\/tr>\n
France<\/td>\n42 000<\/td>\n323 400<\/td>\n<\/tr>\n
Italy<\/td>\n23 000<\/td>\n198 300<\/td>\n<\/tr>\n
Russia<\/td>\n20 000<\/td>\n117 600<\/td>\n<\/tr>\n
Indonesia<\/td>\n12 000<\/td>\n48 500<\/td>\n<\/tr>\n
South Africa<\/td>\n8 000<\/td>\n46 800<\/td>\n<\/tr>\n
Egypt<\/td>\n7 000<\/td>\n20 200<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

“Along with the rise in second citizenship applications, the number of people changing domicile (or immigrating) has increased dramatically since the turn of the century,” NWW said.<\/p>\n

“Major reasons for this include: turmoil in home country, security concerns and optimizing education of children.”<\/p>\n

By far, the UK was the largest beneficiary of HNWI movement over the past 14 years, with 125,000 individuals entering the country between 2000 and 2014.<\/p>\n

The USA was the next biggest, with 52,000 people moving to the country.<\/p>\n

Countries ranked by inflows, 2000 – 2014<\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n\n
Country<\/th>\nNet outflow of HNWIs<\/th>\nNo. of HNWIs, 2014<\/th>\n<\/tr>\n
UK<\/td>\n125 000<\/td>\n840 000<\/td>\n<\/tr>\n
USA<\/td>\n52 000<\/td>\n4 105 000<\/td>\n<\/tr>\n
Singapore<\/td>\n46 000<\/td>\n223 800<\/td>\n<\/tr>\n
Australia<\/td>\n35 000<\/td>\n248 100<\/td>\n<\/tr>\n
Hong Kong<\/td>\n29 000<\/td>\n211 700<\/td>\n<\/tr>\n
UAE<\/td>\n18 000<\/td>\n72 100<\/td>\n<\/tr>\n
Canada<\/td>\n17 000<\/td>\n340 500<\/td>\n<\/tr>\n
Turkey<\/td>\n12 000<\/td>\n100 200<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

The United States leads the world in terms of the number of HNWIs in the country.<\/p>\n

In 2014, the States had over 4.1 million dollar millionaires, followed by Japan (1.25 million) and the UK (840,000).<\/p>\n

South Africa had 46,800 HNWIs in 2014, NWW said.<\/p>\n

More on wealth<\/h3>\n

How much the world\u2019s super wealthy are worth<\/a><\/strong><\/p>\n

SA banks hold Africa\u2019s wealth<\/a><\/strong><\/p>\n

The wealthiest countries in the world<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New data from New World Wealth shows where wealthy South Africans are spreading their roots as they leave local shores.<\/p>\n","protected":false},"author":10,"featured_media":51640,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,6440,7275],"class_list":["post-92720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-new-world-wealth","tag-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=92720"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92720\/revisions"}],"predecessor-version":[{"id":92814,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92720\/revisions\/92814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/51640"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=92720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=92720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=92720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}