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India, China face exodus of millionaires: report

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Washington: India and China are facing an exodus of their wealthiest citizens with tens of thousands of “high-net-worth individuals” (HNWIs) having left to seek greener pastures, according to a new report. inidian-nri

As many as 61,000 Indian millionaires left the country and settled overseas in the last 14 years, second only to China which saw an exodus of 91,000, according to a report by consultancies New World Wealth and LIO Global.

France, Italy, Russia, Indonesia, South Africa and Egypt round out the top eight, according to the study cited by Time magazine.

The study, released this month, looked at immigration data from 2000 and 2014 indicating applications for a second citizenship or change of domicile (permanent residence).

Britain — its capital city London, in particular — appears to be the most popular destination for the world’s rich to settle down in, followed by the US, Singapore, Australia and Hong Kong.

The report said Indians tend to move to countries like Australia and the United Arab Emirates, while Singapore and Hong Kong are popular destinations for China’s wealthy.

Despite the large-scale departure of millionaires, India still has the tenth largest number of millionaires at 226 800, while China stands fifth with 608,500. The US tops the list with 4,105,000 millionaires.

Those who leave generally cite reasons like “turmoil in home country, security concerns and optimizing education of children,” the report said.

Highlights:

Britain was the top beneficiary of HNWIs from abroad. Most of these HNWIs came from Europe, Russia, China and India.

Inflows into the US predominantly came from China. Notable numbers also came from Britain, India and Russia.

Singapore in second place benefited from a strong migration of HNWIs from China, India and Indonesia.

Australia was boosted by strong inflows from the Asia Pacific region (India, China, Indonesia), as well as Britain and South Africa.

The UAE (mainly Dubai) saw strong inflows from North Africa, India and Middle Eastern countries.

Indian HNWIs tended to move to the UAE, Britain, the US and Australia.

(IANS)

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Survey Shows That More Women Support Live-in Relationships in India

For long the concept and topic of live-in relationships has been taboo in India but the times are changing with a number of women coming out in its support, according to a survey.

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Hindu marriage. Pixabay

For long the concept and topic of live-in relationships has been taboo in India but the times are changing with a number of women coming out in its support, according to a survey.

Inshorts, a news app, conducted a poll in the second week of May capturing the views of 1.4 lakh netizens — 80 per cent being in the age group of 18-35 years, read a statement.

Women
representational image. pixabay

According to the survey, more than 80 per cent millennials think that live-in relationships are still considered a taboo in Indian society while more than 47 per cent Indians are of the opinion that marriage is better when choosing between marriage and lifelong live-ins.

More than 80 per cent Indians said that they do support live-ins as a way of life. Out of these, 26 per cent millennials went a step ahead and said that they would choose lifelong live-ins as an option over marriages.

On the other hand, 86 per cent Indians are of the opinion that lust is not the sole reason behind live-ins and more than 45 per cent say that it is more of compatibility testing before marriage.

Night-owl women not for long-term relationships: Study
Couple. pixabay

In the report, 45 per cent respondents have also said that since Indian society constantly judges unmarried couples staying together, any move by the judiciary to support this will not have any effect on their mindset.

Also Read: Night-owl women not for long-term relationships: Study

Azhar Iqubal, CEO and Co-founder, Inshorts said: “Live-in relationships, even after being legally recognised by the government, is a forbidden subject of discussion in Indian households. Our current survey was focused on capturing the sentiments of our Indian youth on such delicate issues.” (IANS)

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