I moved to Australia around 10 years ago (originally from Poland but traveled the world extensively) and worked in tech since then wishing I did a course in welding or heavy machinery operation instead. Even mining laundry service workers here get 120,000/year salary!

The tide is turning though and world's biggest quarry is in trouble.....since China problems are looming more profoundly on Australian economy (China sneezes and Australia catches a nasty cold) more people are looking towards other industries i.e. services, tech, medical and those who used to make a tidy profit in the mines are being let go due to slumping iron ore pricing and weakened demand. In the space of last 12 months iron ore price was cut in half.

Add world's most expensive housing prices, climate issues, stalling economy, bogan attitudes (less so with the influx of educated migrants) etc. and Australia has its own share of issues to deal with. All things considered though, I would never want to go back to Europe or move to US. Why? To name a few: stable democratic government, great lifestyle, far away from some of the the loony bins e.g. Putin or not sharing borders with other countries (can get pretty lonely here at times though as to get anywhere is a minimum 10 hours flight), good pay and social support system, lots of nationalities in bigger cities so racial tensions are rare (we all just seem to get along), warm weather etc. Why would I want to live anywhere else? Yes, I could make more money in US, be more culturally aware/inspired in Europe, have cheaper lifestyle in Asia (south-east) etc. but when you look at what's really important in life and narrow it down to a dozen or so factors, especially if having a family is a prospect, nothing comes close to living Downunder. Even Kiwis want to live here. And that comes from someone who lived (at least 16 months) on every continent, except Antarctica and Africa.

A very large component of that is wealthy Chinese immigration. I have a feeling that it happens to mesh well with the definitions of "millionaire" because a very common route for Chinese immigrants to come to Australia is through property investment, which intrinsically creates a readily quantifiable asset qualifying them as a millionaire. Further, since property investment by foreigners is restricted, any chinese person who does immigrate immediately becomes a funnel for relatives and friends back home to channel investment money in. So I would suspect that a lot of these "millionaires" are paper millionaires only.

Maybe because it's so close to China.

As one VERY rich person said to me.. Australia is a rich persons playground