The U.S. is the top destination among Chinese millionaires looking to move their families and money, to another country, according to a new study by the China-based Hurun Research Institute.
The United States topped the rankings for the fourth year. In terms of individual factors, the American education system remains one of the main reasons Chinese investors most favour the United States. In addition, it came top in terms of visa-free travel and ease of adaptability. President Trump’s tax cuts also saw it score 8 points higher in the tax category this year.
The top five cities for overseas property purchase among Chinese HNWIs remain unchanged from last year. Los Angeles is the most popular for the fifth year running, while New York climbs from the third place to second. Boston is up two places to third. San Francisco remains fourth, tied with Seattle, which falls two places. Greece enters the top ten for the first time, while London leaps eight places to sixth.
| Preferred Destinations for Overseas Property Purchases | Proportion (change) | |
| 1 – | Los Angeles | 18.7% (+2.5%) |
| 2 ↑ | New York | 13.4% (+2.5%) |
| 3 ↑ | Boston | 9.4% (+3%) |
| 4 – | San Francisco | 8.9% (-1%) |
| 4 ↓ | Seattle | 8.9% (-2.3%) |
| 6 ↑ | London | 8.6% (+6.5%) |
| 7 ↓ | Vancouver | 5.8% (+0.1%) |
| 8 – | Toronto | 3.1% (-1.1%) |
| 8 ↓ | Melbourne | 3.1% (-1.6%) |
| 8 * | Greece | 3.1% |
| 10 ↓ | New Zealand | 2.9% (-1.3%) |
| 11 ↑ | Spain | 2.2% (+1.2%) |
| 12 ↑ | Chicago | 1.9% (-0.4%) |
| 12 ↓ | Japan | 1.9% (-1.1%) |
| 14 ↓ | Sydney | 1.7% (-2.5%) |
| 14 ↓ | Singapore | 1.7% (-1%) |
| 14 ↑ | Italy | 1.7% (+0.4%) |
| 17 ↓ | Hong Kong | 1.2% (-0.8%) |
| 17 ↑ | Cyprus | 1.2% (+0.8%) |
| 17 * | Ireland | 1.2% |
| 20 ↓ | France | 1% (-0.7%) |
| 21 – | Malta | 0.7% (0) |
| 22 ↓ | Portugal | 0.5% (-0.2%) |
| 23 * | Canberra | 0.2% |
| 23 – | Hungary | 0.2% (-0.4%) |
Source: Immigration and the Chinese HNWI 2018, by Visas Consulting Group and Hurun Report