In 2023, India has surpassed China as the most populated country, and by 2030, it will be home to 1,5 billion people. Last year also overtook the UK as the world’s fifth largest economy.
In 2023, up to 6,500 high-net-worth individuals (HNIs) are expected to leave India. This number is 13% less than that of 2022 when 7,500 HNIs left the country. According to the Henley Private Wealth Migration report released on June 13th.
In addition to India and China, the report ranks the United Kingdom with a net outflow of 3,200 HNWIs and Russia with 3,000 (compared to 8,500 in 2022 following its invasion of Ukraine) in the third and fourth positions, respectively.
Furthermore Henley & Partners recorded a substantial increase in investment migration program inquiries during the first quarter of 2023. Compared to the previous quarter, there was a 36% rise, and it was 47% higher than the same period in 2022, which was itself a record-breaking year.
The top two nationalities driving this demand are Indians and Americans, with British and South African individuals consistently ranking in the top 10 for the past five years.