According to New World Wealth, a market research firm based in Johannesburg, South Africa, the number of millionaires moving to another country jumped 28 percent in 2016 from the previous year, reaching the highest level the firm has found in its four years of measuring. Millionaire migration has grown 60 percent since 2013, the firm’s findings show, and there are no signs that it is slowing.
Andrew Amoils, head of research at New World Wealth, said he expected the ranks of millionaires on the move to top 100,000 within the next two to three years. __ Going to the Anglosphere
With so much of Europe and the emerging world in turmoil, those who can escape are seeking a safe haven for themselves and their wealth. The wealthy will desert a sinking ship in search of what they see as safer, higher ground. First they send their capital, then they send their families, and finally they jump ship themselves.
Money may not buy happiness, but it does buy the ultimate flexibility for making financial and lifestyle decisions.
For many of the world’s millionaires, money provides a highly effective means to escape their home country when times get tough. They can pack their bags, and move their family and capital to a location that will provide superior opportunities for prosperity.
According to a new report by New World Wealth, this couldn’t have been truer for 2016, as the amount of millionaire migrants increased by 28% from the previous year. __ Millionaire Migrants
Where Are Millionaires Going? Where Are They Running From?
Most of the BRICS, France, and Turkey are the biggest current losers when it comes to the millionaire migration. On the other side of the account, the nations of the Anglosphere are the biggest winners at this time. Overall numbers of migrating millionaires appear to be rapidly rising.
France is beseiged by immigrant violence. The flood of violent migrants overwhelming Europe is likely to drive many more wealthy Europeans out of the old, formerly safe countries to places of generally greater safety and stability. Turkey is experiencing instability as a result of tensions in government and by violent threats emanating from surrounding Islamic nations in turmoil.
There have been several terror attacks in France in recent years. And there are winds of political change blowing: Earlier this month, far-right candidate Marine Le Pen launched her presidential campaign with a hardline speech on immigration and globalization, leading some commentators to say Le Pen, if she won, could pull France out of the European Union in a “Frexit.” __ Marketwatch
Global Stability Map
Peter Zeihan’s map above reveals his expectations for future stability of world nations. Zeihan’s predictions generally match the data from the “Millionaire Migrant” infographic above.
Zeihan (like George Friedman) overrates Turkey, perhaps failing to predict Erdogan’s sudden lurch toward personality cultism and dictatorship, a la Putin.
As we at the Al Fin Institutes have been saying for many years, under current leaders the underlying foundations of the BRICS nations are brittle and unstable. Chinese debt and corruption are out of control, Russian society (and economy) festers from self-inflicted wounds, and India’s endemic corruption may be beyond remedy. Brasil has much agricultural and natural resource wealth, but its people are hopelessly mired in leftist incompetence and an unfortunate combination of debt and dysgenic decline. South Africa, with an average population IQ of 72, has gone to war with its “smart fraction,” never a wise strategy for achieving economic prosperity.
The long term health and stability of Europe depends upon whether the old countries still have enough wisdom in their governments to bring dysfunctional immigration and welfare state policies under control. Stepping back from the “green precipice” and the “climate apocalypse cult” would likewise infuse much energy and potency into the economies and peoples of old Europe.