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Half of China’s millionaires to invest abroad
By Juwai, 20 November 2014
A recent Barclays report predicts that 47% of China’s millionaires are looking at overseas opportunities within the next 5 years.1
We’ve often cited four key motivators of Chinese overseas property purchasing – education, emigration, investment, and lifestyle – none of which are mutually exclusive usually.
78% of survey respondents cited quality education and favourable employment opportunities for their children as their main motivations.
Sending a child abroad is often cited as the first step towards greater investment for most of China’s super-affluent.6
Looking then at which top destinations Chinese buyers are looking at, Juwai.com data points to the following countries: US, Canada, Australia, UK, New Zealand, Portugal, Thailand, Spain, Singapore, and Malaysia.3
Many of these countries – including the US, Canada, Australia, and New Zealand – are also top emigration destinations4, as well as popular education destinations for Chinese consumers.
While the US remains the #1 choice for university education, Australia and the UK follow closely behind as perennial favourites.
Also among the top five is New Zealand, which is fast becoming a popular choice for Chinese students.
China is now New Zealand’s largest source of international students, earning the country a whopping $746 million from tuition fees alone in 2012.7
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Sources: 1. SCMP; 2. SCMP; 3. Forbes; 4. Visas Consulting – Hurun Report “Immigration and the Chinese HNWI 2014” Report; 5. WSJ; 6. Higher Education Advisor; 7. New Zealand Ministry of Education Export Education Levy Annual Report 2012-2013
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