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As mentioned in this article, in most cases, father and the business do not move, only part of the family. Apart for spending in property and luxury items, looks like wealthy migration are passive participants in the economy - not starting businesses employing people, or paying much tax.

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I wonder, what are wealthy people more likely to do: (1) but a hand made leather bag from a local hipster workshop (which I would do) or (2) buy a 10x more expensive Louis Vuitton bag which was probably made in a giant factory in China? And generalize to other goods/services.

(1) at least supports local economy while (2) supports limited number of middle men.

I'm not saying (2) is bad, but if it's only wealthy people spending their money only on imported goods then it is not good.

Depends how recently the wealthy person came into money.

Nouveau: head to the nearest Louis Vuitton or Goyard boutique and choose the bag with the most logos.

Old money: handmade artisan bag with no labels.

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