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Millionaire migration to Dubai accelerated amid worldwide uncertainty

Xinhua, April 4, 2016 Adjust font size:

The United Arab Emirates' (UAE) business and trade metropolis Dubai attracted 2,000 millionaires last year, Dubai-based Saudi Al Arabiya TV channel reported on Sunday.

According to the report, many of the 2,000 millionaires came from Egypt, Algeria, Morocco and Turkey.

More traditional centers for the rich, such as London, experienced far more modest gains, a study titled New World Wealth was quoted as stating.

About 3,000 millionaires moved to the UK's capital in 2015, and 2,500 left, it added.

The rest of the UAE, such as Abu Dhabi, gained another 1,000 millionaires last year, reaching a total of 72,000.

"We expect that millionaire migration away from France will accelerate over the next decade as these tensions escalate," the report noted.

In the past, wealthy people like French actor Gerard Depardieu quoted the high rate of taxation for leaving France. Endit