Mapped: Millionaire Migration
The UAE is set to attract the most millionaires in 2024, while China and the UK are expected to lose wealthy individuals. This trend highlights the impact of economic policies on millionaire migration.
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In 2024, the United Arab Emirates is projected to attract the most millionaires, while China and the UK are expected to lose a significant number of high-net-worth individuals (HNWIs). The UAE's focus on economic diversification, government investment, and attractive tax initiatives has made it a global economic powerhouse, drawing in wealthy individuals. On the other hand, China is experiencing an outflow of millionaires due to economic uncertainty and geopolitical tensions, with a record exodus expected in 2024. Similarly, the UK is anticipated to lose a substantial number of millionaires following Brexit, marking a shift from historically attracting wealthy families. The movement of millionaires has implications for job creation, investment, and economic growth in different countries, as highlighted by the Henley Private Wealth Migration Report 2024. This millionaire migration trend underscores the importance of policies and initiatives that attract high-net-worth individuals for economic development.
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