Jan 30 2018

Turkey loses 12,000 millionaires in two years – report

Turkey has lost the wealth of 12,000 dollar millionaires over the past two years, including 6,000 in 2017, according to online business news magazine Patronlar Dünyası.

Turkey ranked third globally for migrating millionaires last year after China’s 12,000 and India’s 7,000, the publication said citing the 2018 New World Wealth Report.

The exodus over the past two years compared with 1,000 people in 2015. The most popular destinations were European Union countries and the United Arab Emirates, it said.

Turkey’s government thwarted an attempted military coup in July 2016. The government arrested thousands of people connected with the Fethullah Gulen movement, which it said orchestrated the intervention, seizing assets and property worth billions of dollars.

Globally, a total of 95,000 millionaires changed their country of residence and location of their bank accounts, with the most popular destinations being Australia, the United States, Canada and the UAE, the magazine said.

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