Australia is the top nation for millionaire immigrants

Australia has been ranked as the # 1 nation for millionaire immigrants as per the Global Wealth Migration Review 2019. This has been revealed by the data of New World Wealth consultancy.

The report says that 12,000 millionaire immigrants arrived at Australia and 10, 000 at the US in 2018. These nations have been consecutively named as top nations in the global immigration wish lists.

Australia earned the # 1 position for millionaire immigrants due to several factors. These include growing economy, first-class healthcare system, strong school system, and low crime rate.

Australia has also been named as the safest nation in the world for women by the same report for the second consecutive year.

The Johannesburg based global market research group released the study on immigration of wealthiest individuals globally last month. They analyzed factors influencing growth of wealth as a part of their study. This includes the safety of women, press freedom and economic growth, as quoted by the Business Insider. 

Australia has been ranked # 1 in the report ahead of the US for the 4th consecutive year. The research team analyzed roughly 108,000 millionaire immigrants globally in 2018. This was an increase of 14% in 2017.

The top 10 nations that experienced the highest increase in millionaire immigrants in 2018 are:

•    Australia

•    The US

•    Canada

•    Switzerland

•    The UAE

•    Caribbean Islands

•    New Zealand

•    Singapore

•    Israel

•    Portugal

The largest cities in Australia are amongst the safest globally according to the report. They are also considered to have more preferable ambiance for raising children. The report adds that millionaires tend to move to the biggest cities in Australia. These include Brisbane, Perth, the Sunshine Coast, the Gold Coast, Melbourne, and Sydney.

Though Australia has high rates of tax generally, it does not have an inheritance tax. It potentially persuades millionaires to remain in the nation and build the estate of their family.

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