A whopping 47 percent of all Chinese millionaires plan to abandon the Middle Kingdom for other locales within the next five years. The figures were published September 14 in a wealth report from UK-based bank Barclays.

Surveying 2000 people in 17 countries with a personal wealth over $1.5 million (and 200 with more than $15 million), the report states that, "Around the world, a growing number of high net worth individuals are becoming more international in their outlook and behaviour, and moving more frequently from country to country."

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According to the report, China has by far the largest group of would-be economic emigrants; the top five countries with wealth on the move after China are Singapore (23 percent), the United Kingdom (20), Hong Kong (16), and the United States (6). 

Many monied Chinese already have properties abroad, living outside of the country much of the year. Siting well-established reasons including more open society, better health care, less strident educational systems, and a firmer economy, Hong Kong is the top destination. The report found that as many wealthy Chinese owe their fortunes to the Chinese economy, they cannot afford to be too far from it. After Hong Kong, Canada was found to be the next most alluring destination.

Europe and the United States also rate high on the list, with "wealth hotspots" London and New York being major draws, and not just for Chinese. Monied Russians and Arabs have also moved in, escaping increasingly authoritarian or unstable conditions in their homelands.

Ironically, even as China braces for a profound money flight, the country is also at the top of economic destinations. Thirty percent of wealthy Singaporeans looking to move are eyeing China as a new home. As Pacific Asia has grown in wealth, the mobility of its peoples have correspondingly increased.

The same report found that Latin America and the Persian Gulf countries of Qatar and the United Arab Emirates are also facing money drain. 

Tagschinese millionaire, Hong Kong, economic emigration