Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks

LONDON,June 24, 2025/PRNewswire/ -- A record-breaking 142,000millionaires are projected to relocate this year, with the UK expected to see the largest net outflow of high-net-worth individuals by any country since international investment migration advisory firmHenley& Partnersand global wealth intelligence firmNew World Wealthbegan tracking millionaire migration 10 years ago.

According to theHenley Private Wealth Migration Report 2025, the UK is forecast to lose a staggering–16,500millionaires in 2025 — more than double the anticipated –7,800 net outflow fromChina, ranked 2ndthis year after topping the millionaire-loser leaderboard for the past decade. In stark contrast, the UAE retains its crown as the world's leading wealth magnet, with a record net inflow of+9,800relocating millionaires expected this year — over 2,000 more than the US in 2ndplace. +7,500 new wealthy migrants are forecast to make America home by year-end.

Dr.Juerg Steffen, CEO at Henley& Partners, says"2025 marksa pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows. This isn't just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. The long-term implications forEuropeand the UK's economic competitiveness and investment appeal are significant."

For the first time, EU heavyweightsFrance,Spain, andGermanyare also expected to see net HNWI losses in 2025 — with projected net outflows of–800, –500, and –400millionaires, respectively.Ireland(–100),Norway(–150), andSweden(–50) are beginning to see significant wealth losses too, with many affluent Europeans relocating to more investor-friendly hubs on the continent.

Global winners: Where the wealth is heading

Key beneficiaries of this trend areSwitzerland, set to attract a net gain of+3,000migrating millionaires this year, whileItaly,Portugal, andGreeceare also forecast to see record inflows of +3,600, +1,400 and +1,200, respectively — driven by favorable tax regimes, lifestyle appeal, and activeinvestment migration programs.

Outside ofEurope,Saudi Arabiais the biggest riser on this year's inbound list, projected to see a net inflow of+2,400new millionaires. Traditional destinations such asSingapore(+1,600),Australia(+1,000),Canada(+1,000), andNew Zealand(+150) appear to be losing their appeal, with their lowest net inflows on record provisionally expected in 2025.Thailand(+450) is rapidly emerging asSoutheast Asia'snew safe haven, withBangkokpositioning itself as a key rival toSingapore.

Hong Kong(+800) andJapan(+600) are forecast to enjoy higher HNWI inflows this year, while Central American andCaribbeanjurisdictions — includingCosta Rica(+350),Panama(+300), theCayman Islands(+200), andBermuda(+50) — are all set to attract record numbers of wealthy migrants to their shores. Three African nations —Morocco(+100),Mauritius(+100), and theSeychelles(+50) — make it onto the inbound millionaire migration rankings for 2025.  

Global losers: Where the wealth is leaving

InAsia,South Koreais expected to see significant net outflows of HNWIs (–2,400), more than double last year's figure.Vietnam(–300) is also beginning to see a worrying uptick in millionaire departures, andPakistan(–100) continues to lose millionaires to theUAE.Taiwan(–100) presents a mixed picture: while its tech-driven economy remains robust with +65% millionaire growth over the past decade, growing tensions withChinaand a lack of luxury real estate options appear to be unsettling some of its wealthiest residents.

Despite ongoing instability in theMiddle East,Israelis expected to show relatively modest outflows (–350), primarily to theUS, whileLebanon(–200) faces concerning losses, with many wealthy individuals relocating toCyprus,Greece, and theUAE.Iran(–200) is also losing HNWIs to the UAE.

InLatin America,Brazil(–1,200) andColombia(–150) are both expected to see sizeable wealth drains, while the other BRICS nations —China(–7,800),India(–3,500),Russia(–1,500), andSouth Africa(–250) — are all on track to record their lowest net millionaire losses since Covid.

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SOURCE Henley& Partners