SUBSCRIBE: Newsletter

Human Resources



Wealthy Chinese and Singaporeans want to leave their home countries

"Informative, Interactive, Inspiring. The conference brings new ideas and insights about current issues in talent and HR management"
Join the seventh annual Talent Management Asia, Asia's leading HR strategy conference.
Register now for early-bird savings!

Nearly half of China’s wealthy want to move to another more developed country in the next five years.

According to a Barclays survey of 2,000 high net-worth individuals with more than $1.5 billion in total net worth, 47% of Chinese said they are looking to shift countries. This is compared with a global average of 29%.

High net-worth individuals in Singaporeans are also keen to leave home, with 23% wanting to move within the next five years. In fact, China is the top destination for Singaporeans wanting to flee, with 30% saying they want to move there.

Twenty per cent of wealthy individuals from the UK also want to leave their home country, followed by 16% in Hong Kong. Those least likely to move countries include the wealthy in America and India, at 6% and 5% respectively.

The main reason Chinese want to move abroad are better education and employment opportunities for their children (78%). This is followed by economic security and a better climate (73%) and better health care and other social services (18%).

They want to move to Hong Kong (30%) as well as Canada (23%) the survey found.

“The reality is that most ultra-high net worth individuals in China are probably making money in China right now,” said Liam Bailey, head of residential research at London-based broker Knight Frank LLP, in the report.

“So, for business reasons, they need to be relatively close. That might prevent some of them going further afield.”

Image: Shutterstock

Don't miss the opportunity to shout about your successes in recruitment and talent acquisition - the Asia Recruitment Awards is
the only regional awards to celebrate the best in-house teams and recruitment solution providers.
Finalists announced!

Read More News

in All markets by

Quick Q&A with May Schooling

Lessons on making tough decisions, instilling the mindset of an Olympic champion in staff, and more in this conversation with Jere..


Leave a Reply

You must be logged in to post a comment.