Nearly half of super-rich individuals in China are planning to move abroad within the next five years, according to a new Barclays survey.
According to a survey of 2,000 high net-worth individuals (HNWIs) with more than US$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%.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Nearly 30% of Chinese respondents said they want to move to Hong Kong, followed by Canada at 23%.
Reasons cited for wanting to leave include better educational and employment opportunities for children overseas (78%), preferable economic climate and greater security (73%), and better health care and social services (18%).
Singaporeans were the second-most eager to flee home, with 23% planning to relocate in five years, followed by 20% for the UK and 16% for Hong Kong.
The study found that American and Indian billionaires are the most attached to their homelands, with only 6% and 5% saying they wanted to leave.
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 GlobalData"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, in the report.
"So, for business reasons, they need to be relatively close. That might prevent some of them going further afield."
