Cape Town – South Africa is reportedly losing millionaires at an alarming rate.
According to The Citizen, over the last decade, approximately 4 500 high-net-worth individuals have left the country.
Their reasons for leaving include concerns about safety, rolling blackouts, corruption, and economic stagnation, the report said.
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Henley and Partners reported that the majority of investors are looking for greener pastures in the following countries: United Kingdom, United States and Australia, Portugal, Switzerland, Israel, Mauritius, New Zealand, the UAE, Canada, Monaco and Malta.
“Forecast figures in the Henley Global Citizens Report show the top 10 countries in terms of net inflows of HNWIs in 2022 will be the UAE, Australia, Singapore, Israel, Switzerland, the US, Portugal, Greece, Canada, and New Zealand. Large numbers of millionaires are also expected to move to ‘the three Ms’: Malta, Mauritius, and Monaco.
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Compiled by Sinothando Siyolo
