Almost half of the wealthy in China — 47 percent, to be exact — are considering moving to another country in the next five years, according to a new report from Barclays.
The U.K.-based bank surveyed more than 2,000 people across the globe, each of whom had personal wealth of more than $1.5 million. The survey found that the wealthy in China want to leave their country more than the wealthy in any other part of the world.
The South China Morning Post reports that the inspiration for the wealthy to move is primarily "to find better education and job opportunities for their children," which 78 percent of survey respondents claimed as a top priority. 73 percent wanted to move for a "preferable economic climate and greater security," while 18 percent sought "better health care and social services."
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"The reality is that most ultra-high net worth individuals in China are probably making money in China right now," Liam Bailey, head of residential research at London brokerage Knight Frank, said in the report. "So, for business reasons, they need to be relatively close. That might prevent some of them going further afield."
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