China Rich: still looking abroad for many reasons – Rupert Hoogewerf

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Rupert Hoogewerf

Rupert Hoogewerf

Two years ago China Rich List founder Rupert Hoogewerf or Hurun was the first to disclose that two-third of China´s rich had or wanted to have a foreign passport. That pull by foreign countries has not diminished, he tells in Ibtimes, but because multi-entry visa are easier to get, many do not need another nationality to live outside China.

Ibtimes:

Two years ago, Hurun Report, a Shanghai-based research firm that analyzes China’s wealthy, attracted much attention with a report saying that almost two-thirds of rich Chinese citizens had obtained or were thinking of getting a foreign passport. The obsession with getting a foreign passport may have faded a little since, according to Hurun’s founder Rupert Hoogewerf — many western countries, including the U.S., have now begun to offer Chinese citizens ten year multiple entry visas, giving them an ease of travel previously not possible on a Chinese passport. And Hoogewerf notes that some overseas-based Chinese are still looking to the mainland for new business opportunities. But he says the current economic climate is still encouraging many to move abroad.

“I think if people had questions before about the general quality of life in China — about pollution, about education, about security, food safety — the economic slowdown has pushed them to say, ‘perhaps we really should be looking to spend more time in Australia or New Zealand.'”

More in Ibtimes.

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