If wealthy people feel that their home country is becoming unstable, many of them will look into relocating elsewhere. This is exactly what has been happening among some of the world’s richest individuals in recent years.

Peter Thiel has increasingly thrown himself into life in Argentina. If he hadn’t bought a home in one of Buenos Aires’ wealthiest neighbourhoods, he would still be splitting his time between the US and other locations. Instead, he has settled in and enrolled his children in local schools.

Wealth advisors say that if a person has the means to do so, they should diversify where they live, just as they would diversify a financial portfolio. If more rich people hadn’t started doing this years ago, the trend probably wouldn’t have caught on so quickly among today’s elite.

Some countries have moved to capitalise on this shift. If New Zealand had not relaxed its golden visa requirements, applications from wealthy Americans would not have increased so sharply. Costa Rica and Thailand have likewise stepped up efforts to lure in wealthy newcomers, rolling out incentives that previous governments had ruled out.

If this trend continues unchecked, more countries will likely follow suit. If political or economic instability flares up in someone’s home country, they may decide to bail out and call their second home permanently. Whether or not their decision pays off, this growing pattern shows just how far the world’s wealthiest people will go to safeguard their lifestyles.