Around 82,000 millionaires migrated last year, up from 64,000 in 2015, according to global market research group New World Wealth.
Of those, an estimated 11,000 millionaires made their way to Australia, putting it on top of the table for the second year in a row. That compared to 10,000 who moved to the United States, and 3,000 who moved to the UK.
New Zealand, Canada and the UAE were among the other countries to experience large inflows of millionaires, while France, Turkey and Brazil were three nations to have lost the most.
Most Western European countries appeared to be losing millionaires after the surge in immigration from the Middle East and Africa.
Around 12,000 millionaires left France last year, making it the most ditched place for millionaires, the research found.
Millionaires are leaving France because of high taxes on the wealthy as well as rising religious tension, said Andrew Amoils of New World Wealth.
According to him, when it comes to deciding where to move, millionaires are looking mainly for a good education for their kids and personal safety.
Millionaire migration away from France is expected to further accelerate over the next decade as these tensions escalate and inflow of immigrants continue.
The report also showed similar results a year earlier, warning that other European countries, including the UK, Belgium, Germany and Sweden "where religious tensions are starting to emerge", are poised to see similar trends.
