More than a third of German millionaires are considering leaving the country because of the instability caused by mass migration and the rise of the far-Right, a study has found.

In a survey of 1,000 German millionaires, 37 per cent said they were more likely to leave Germany following the results of last month’s election, in which the far-Right Alternative for Germany (AFD) party secured an unprecedented second place.

Of those considering an exit from Germany, 42 per cent cited the rise of the far-Right as their main reason for doing so, while 47 per cent cited concerns about immigration.

The survey results suggest that Germany’s fraught political atmosphere could lead to a “brain drain” of top business talent, even as Friedrich Merz, the incoming chancellor, tries to turbocharge the economy with a special fund of €500 billion (£420 billion).

“Wealthy Germans are clearly feeling fatigued by the state of politics at home, and are looking elsewhere for a ‘plan B’,” said Armand Arton, the chief executive of Arton Capital, which carried out the survey on German millionaires with a net worth of up to €5 million.