GRAPHIC: Rich Europeans fleeing London, Lagos after new taxes

Rich Chinese and Indians opt for the US or Canada, Russians choose the UK and Cyprus

Wealthy Londoners are leaving the city due to new taxes that have made it expensive to inherit and invest. Moreover, Brexit is prompting rich Europeans living in the UK capital to return home. According to Global Wealth Migration Review, cities that saw large inflows of high net-worth individuals (HNWIs) include Auckland, Dubai, Montreal, New York, Tel Aviv and Toronto. China and India continue to dominate countries where the rich are moving out of. However, once the standard of living improves, people return to their place. Mumbai — India’s financial hub — is expected to be the fastest-growing city in terms of increase in wealth over the next decade.