Top destinations for wealthy Chinese looking to move abroad

This piece was written by Mason Hinsdale and originally published on Jing Daily

Once again, the US tops out the list of destinations for Chinese high-net worth individuals (HNWI) looking to move abroad. Canada came in second and Britain dropped down to third. In many ways, Brexit and a cheaper pound has been very good for the UK in regards to Chinese tourism, which has risen dramatically this year. But a cheaper pound alone was not enough to entice more rich Chinese to consider moving to the UK.

The Hurun Report interviewed 304 individuals with net worths ranging from US$1.5 million to US$30 million to produce these findings, which were released in its report: Immigration and the Chinese HNWI 2017. The report only considered countries that had investment immigration policies.

The top destinations for HNWI immigration in order of preference were the US, Canada, the UK, Australia, Malta, Portugal, Ireland, Spain, Antigua, and Dominica. This is the first time Antigua and Dominica have made the top ten list.

The US dominated the list of most popular cities for HNWI immigration. New York was the fourth most preferred city and San Francisco fell to third this year with Seattle moving up to second. Los Angeles has remained the most preferred city for Chinese HNWI immigration for four years running.

The two biggest concerns for HNWIs looking for immigration destinations were education and living environment, which were the top considerations for 76 and 64 per cent of respondents respectively. Pollution, the falling value of the yuan, and the quality of education are the primary drivers of HNWI immigration from China.