HNIs in Tier 1 & 2 cities in India are now looking at investing abroad

Immigration has always appealed to those seeking to explore new opportunities and prospects. While historically the majority of Indians who considered immigration were from the middle class and upper middle class, the trend appears to have changed over the last few years. High-net-worth individuals (HNIs) in India’s smaller cities are increasingly searching for international immigration options.

The reasons behind this trend are many. One of the changes in recent years has been how people view living overseas. At one time, it was considered a way to go away from political unrest or economic difficulties. But as the world has become more globalised, immigration is now seen as a way to explore new international investment opportunities, better quality of life good educational and healthcare facilities.

The fact that many smaller cities in India lack the same amenities and infrastructure as major urban areas is another factor contributing to the trend of HNIs considering immigration. In some of these regions, access to high-quality healthcare, education, and lifestyle options may be constrained. As a result, many wealthy people migrate abroad to places with higher living standards. Moreover, many of these HNIs are entrepreneurs and business owners who understand the value of exploring new markets and opportunities. For them, immigration is not only a way to experience a new country but also to expand their businesses.

IIFL Wealth Hurun India Rich List 2022 report quotes that smaller cities have given this country 178 tycoons. Smaller cities like Coimbatore, Thrissur, Aurangabad, Haridwar, Surat, Nagpur to name a few are generating more than $300 billion of wealth each annually. Even cities like Jaipur, Indore and Lucknow are contributing around $150 billion. Hence, these unexplored markets by many have now become prospective cities to tap.

As a result, Indians from major metropolitan cities are no longer the only ones who consider moving abroad. Many HNIs in India’s smaller cities are looking to it as a way to explore new possibilities, markets, and amenities. This trend is likely to continue in the future because of the growing economic prosperity amongst people from smaller cities of India.

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