Between 2007 and 2015, Mauritius attracted most millionaires, a recent report from New World Wealth reveals.

The number of millionaires residing in the country, outside main residence, soared by 160% over the nine past years, the report entitled “The Africa 2016 Wealth” Report stated.

The significant growth is mainly due to Mauritius characteristics in terms of economic performances, tax facilities, property protection rights, weather, low criminality and retirement residence. Additionally, citizenship is automatically granted to any foreign resident that buys a property exceeding $500,000.

Ethiopia comes second in the ranking of African nations to have attracted the highest number of rich Africans (high net worth individuals/ HNWI) between 2007 and 2015, surging 130% over the period considered.

Next come Tanzania (+80%), Cote d’Ivoire (+70%), Kenya (+60%), Gabon (+50%), Namibia (+35%), Botswana (+35%) and Nigeria (+10%).

In South Africa, the number of residing millionaires fell by 10% as a result of mass exodus of rich people to more attractive countries. The new report has in fact established that about 240 South African millionaires have moved to Mauritius since 2007.