Rich migrants feel allure of Australia

Report notes factors including country's safety and proximity to Asian emerging economies

People seen against the skyline of Sydney, Australia, on May 7, 2018. Australia's location makes it a better base for doing business in emerging Asian economies.
People seen against the skyline of Sydney, Australia, on May 7, 2018. Australia's location makes it a better base for doing business in emerging Asian economies.PHOTO: REUTERS

Australia has become the destination of choice for the world's wealthy.

It had an intake of about 10,000 millionaires last year, ahead of the United States, Canada and the United Arab Emirates, according to an AfrAsia Bank report.

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A version of this article appeared in the print edition of The Straits Times on July 18, 2018, with the headline 'Rich migrants feel allure of Australia'. Print Edition | Subscribe