South Africans are taking their money abroad: expert

Sable International's Group Commercial Director, Andrew Rissik comments on recent statistics implying South Africans are taking their money out of the country. Courtesy of #DSTV403

JOHANNESBURG - Many South Africans are taking their money out of the country to avoid getting entrenched in the dire state of the economy.

Emigration experts say there is a 70-percent increase in inquiries from people who want to go abroad.

READ: Where do South Africa's wealthy spend their money?

Sable International's Group Commercial Director, Andrew Rissik said a complex set of circumstances influence people's decision to seek a life in another country.

Political instability, crime, insecurity around the future, and employment concerns are among the factors that influence the decision to look abroad for other opportunities, Rissik said.

Source
eNCA