A new Barclays survey shows that nearly half of the high net-worth Chinese individuals polled plan to jump ship to another country within the next five years.
China places second behind the U.S. for the highest number of millionaire households, and now many of those high net-worth individuals plan to buy higher standards of living outside of China.
According to a Barclays survey, which polled over 2,000 Chinese residents with a total net worth greater than $1.5
billion million, 47 percent of Chinese respondents said that they wanted to move abroad in the next five years, compared to a global average of 29 percent.
Better education and employment opportunities for their children was cited as the number one reason by respondents (78 percent), closely followed by economic security and desirable climate (73 percent).
Nearly a third of those surveyed want to move to Hong Kong and 23 percent listed Canada as their top choice.
Conversely, of the 23 percent of wealthy Singaporeans polled who said they were keen on leaving home, nearly a third of them say they want to move to China.
By Lucy Wang