About 41% of high-net-worth-individuals (HNWI) in Europe have shifted to a new country during the last decade, while over 50% intend to relocate within the next 10 years, according to a report by NPG Wealth Management.
The study revealed that the individuals who have shifted earn higher incomes than those who have not, work harder than average, spend longer in the office and make sacrifices deliberately to achieve career goals.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Ensuring the financial stability of their family is the main driver to work hard for European HNWIs, though for the re-locaters it is tempered by personal and emotive factors.
These mobile HNWIs are also more likely to run their own businesses compared to those who have not moved.
The study further highlighted that these internationally mobile HNWIs are more likely to save towards every type of goal other than retirement.
Also, 29% of these individuals use life assurance to save towards a goal, compared to 19% who have stayed in the same country.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFurther, less than 1 in 3 HNWIs cited using a financial advisor as their main source of advice, but instead use a broad range of sources.
Individuals who move are also not shy of enjoying their wealth, and are more likely to reach quick and pragmatic decisions about the purchases made, the study added.
Moreover, these individuals usually pursue hobbies that call for active participation.
