Surefire Reasons Why UHNIs Will Migrate from India in Future?
I can almost bet; you won't be able to guess the reason
It's Inevitable. More UHNI families will continue to migrate out of India
(And This can EASILY be avoided)
Before we start, if you're unaware UHNI = Ultra High Net Worth Individual.
A quick search will tell you that a person with net worth of ₹25 crores is UHNI.
₹25 crores are about $240,000.
Now back to the regular reporting.
Imagine this. You're earning over ₹5,00,000 per month in your cushy corporate job.
That's close to $4,800 for people who are residing out of India. By Indian standards, that's a very impressive paycheck.
Would you like to commute in a super crowded bus/ local train for 2 hours to reach your office and spend another 2 hours in a similar setup on your way back?
Not just that, imagine if the roads in your city stinks, the roads are full of potholes.
Who would want to live in a place with such poor infrastructure, right?
Now, expand this same idea, but now, your net worth is 100X more.
You're earning close to ₹5,00,00,000 per month.
Why would you tolerate your family to commute on roads that are full of potholes, the air in your city is always polluted, a trip to your office/ club/ restaurant ends up taking 45mins+ every time because you face traffic everywhere?
The problem with the wealth gap increasing in India is that the gap is too wide to bridge.
With thousands of people becoming millionaires every year, the infrastructure, the overall quality of facilities isn't improving at the same pace.
As a result, many UHNI families with businesses spread across multiple countries will decide to switch base and move to places like Dubai, Singapore, Malaysia which are at a short flight to India, and are also favourable places to move with family.
People today want value for their money which extends to the money they're paying to the government as taxes.
With systems, management run and operated businesses, and digital technologies, a lot of the work can be managed from any part of the world.
And well, when need be, a short commercial flight/ private jet is an expense that the UHNIs can afford without blinking an eyelid.
After the big brain drain, it's just a matter of time before our country starts seeing a significant capital drain, unless we get serious about improving the "quality of life" for people who are choosing to live back and serve the country with their mind, skill sets and expertise.
I know this may seem too harsh to someone who's just reading about this idea for the first time in their life, but I say this with so much confidence, because I already know a few families who have already executed this decision.
Tell me your thoughts in the comments👇🏻
Keep Going Keep Growing 🚀
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P.S.: Image made on Meta AI using the prompt, “Imagine an ultra-high net worth family of a husband, wife and two kids in front of a private jet who are ready to move their base from India to Dubai”