News > India may lose 6,500 millionaires this year, Dubai & Singapore preferred destinations

India may lose 6,500 millionaires this year, Dubai & Singapore preferred destinations

According to the 2023 edition of Henley's annual Private Wealth Migration Report, India is set to lose as many as 6,500 high-net worth individuals (HNWIs) this year, second only to neighbour China (13,500), with the United Kingdom (3,200) placed third on the list. The 2022 edition projected the departure of 7,500 HNWIs from India that year. The report describes HNWIs as people with investable wealth of $1 million (approx. ₹8.2 core) or more.