The report, Wealth Through the Prism of Culture and Mobility, revealed that a global, nomadic approach to personal and professional life is a key factor to the success of millionaires around the world.
While 88% and 79% of millionaires who left their birth country in search of success rated quality of life and family needs respectively as top considerations, business interests were a key factor for only 67%.
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The survey has shown that 60% of the most internationally-mobile wealthy individuals generated majority of their income from the country they now call home and in turn, 48% said as to having invested the majority of their income back into their country of residence, while 32% said to be investing primarily in their country of origin.
Real estate was found to be leading the list of preferred asset classes for the internationally-mobile wealthy, with 53% having it as a high or very high proportion of their portfolio.
Additionally, 33% believed in transferring enough wealth to their family so that they are comfortable.
"As globalized economies converge, HNWI have increasingly international footprints, with personal and professional interests in multiple geographies. Our experience working with high net worth clients around the world shows that their success is often strongly influenced by a global perspective about building, protecting and ultimately transferring wealth to future generations," said George Lewis, group head, RBC Wealth Management & Insurance.
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