Friday April 27, 2018
Home India 4000 milliona...

4000 millionaires reported to shift abroad in 2015

0
//
64
Image source: www.officechai.com

New Delhi: India has seen the fourth-biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas, says a report.

According to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country.

The report however noted that the migration of super rich from China and India is not a “concern”.

“The outflows from India and China are not particularly concerning as these countries are still producing far more new millionaires than they are losing,” the report said and added that “once the standard of living in these countries improves, we expect several wealthy people to move back.”

In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood at 6,000.

On France, the report said, the country is being heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas.

“We expect that millionaire migration away from France will accelerate over the next decade as these tensions escalate,” the report said.

It further noted that other European countries where religious tensions are starting to emerge such as Belgium, Germany, Sweden and the UK will also be negatively affected in the near future.

Other countries that saw significant millionaire outflows include Greece (3,000), while Russian Federation, Spain and Brazil saw 2,000 such outflows each.In terms of millionaire inflows, Australia topped the chart as it saw as many as 8,000 uber rich people shifting base there, followed by the US (7,000) and Canada (5,000) in the second and third place respectively.

 Millionaires, otherwise known as “high net-worth individuals” or “HNWIs” refer to individuals with net assets of $1 million or more excluding their primary residences.
Credits: Times Of India

Next Story

Indians’ online security concerns increasing: McAfee

In the wake of growing risks of identity theft and fraud, 50 per cent of consumers have signed up for an identity theft protection solution with 42 per cent planning to start using it

0
//
76
McAfee says that online security concerns are rising in India. IANS
McAfee revises its online security portfolio. IANS
  • Today everyone is putting their information online or saving it on clouds
  • There are many concerns rising about the online safety
  • In India especially safety concerns are rising

As today’s connected world is putting more personal information into the digital realm, nearly three in four (79 per cent) Indians have said that their concern about online security has increased vis-a-vis five years ago.

tamil language
Storing data online is a common practice. Pixabay

A study, “New Security Priorities in An Increasingly Connected World” by global cyber security firm McAfee, also revealed a disparity in concerns as Indians do not view safeguarding their connected devices (25 per cent) as equally important as safeguarding their identity (45 per cent) and privacy (39 per cent).

“Even though consumers are increasingly worried about their security and privacy, we have also observed a disparity between their concern and action,” Venkat Krishnapur, Vice President, Engineering and Managing Director at McAfee, said in a statement. In the wake of growing risks of identity theft and fraud, 50 per cent of consumers have signed up for an identity theft protection solution with 42 per cent planning to start using it.

Also Read: Online intervention helps teenage moms deal with depression

The research indicated that the primary ways consumers rely upon for monitoring their identity include checking online bank and credit card accounts for unauthorised charges (64 per cent), checking social media for fraudulent posts (38 per cent) and using credit monitoring services (31 per cent).

Internet penetration in rural India abysmal: Report
Indians have a rising concern over their internet security. Wikimedia Commons

“In an ever-changing digital world fuelled by volume, speed and complexity, consumers should take a proactive approach towards protecting their identities and data,” Krishnapur added. When it comes to purchasing connected home devices, 39 per cent Indians ranked security as the most important factor. IANS

Next Story