Africa has always been a destination for the super-rich. A recent study by New World Wealth has drilled down into the continent’s relationship with the Ultra High Net Worth community and has come up with a series of findings as to where the uber wealthy go, and in what numbers.
The study, titled “Millionaire Tourism in Africa,” says that around 43,000 multi-millionaires visited Africa in the 12 months to September 2015. That was the time period covered by the research, so all the lists relate to that period. “Multi-millionaires” are described by New World wealth as individuals with net assets of $10 million or more.
South Africa was the most popular African destination for the super-rich, with roughly 11,000 multimillionaires visiting the country during the 12 month period.
The report adds, “This was despite new visa rules that made it more difficult for visitors to go to South Africa.”
Major destinations for the super rich within South Africa included: Cape Town, Johannesburg, Umhlanga, Franschoek, Stellenbosch, Kruger Park (mainly around Sabi Sands) and the Garden route (mainly around Knysna).
Andrew Amoils, Head of Research for New World Wealth, told me, “Chinese and Indian millionaires are common visitors to Africa, especially places like South Africa, Seychelles, Mauritius and Kenya.”
Outside of South Africa, major destinations for international millionaires included: Mauritius, Seychelles, Marrakech in Morocco, Casablanca in Morocco, Cairo in Egypt, Nairobi in Kenya, the Serengeti in Tanzania, Sharm El Sheikh in Egypt, the Masai Mara in Kenya, Livingstone in Zambia and the Okavango Swamps in Botswana. The Bwindi Forest (Uganda) Gorilla safaris in the Virunga Mountains are also popular.
There is a slight shift in movement, however, with the Chinese and Indian rich, notes Andrew Amoils.
“Chinese and Indian millionaires used to visit Morocco and Egypt a lot a few years back but seem to no longer be going there in big numbers. This may be due to the recent rise in religious violence in these countries.”
The numbers of general multi-millionaire visitors to African countries, rounded to the nearest thousand, are broken down as follows.
- South Africa 11 000
- Morocco 4 000
- Botswana 3 0004
- Kenya 3 000
- Seychelles 3 000
- Tanzania 2 000
- Egypt 2 000
- Mauritius 2 000
- Uganda 1 000
- Zambia 1 000
- Mozambique 1 000
- Nigeria 1 000