Rich Individuals Mass Exodus from UK: Businesses and Tax Revenues Depart En Masse
In the ever-evolving landscape of global wealth, there are significant shifts underway as high-net-worth individuals (HNWIs) seek new destinations for their residences.
Asia's Mixed Fortunes
Asia is witnessing a concerning trend, with Vietnam experiencing a worrying uptick in millionaire departures (-300). Conversely, Taiwan presents a mixed picture, as its tech-driven economy remains robust, yet growing tensions with China and a lack of luxury real estate options appear to be unsettling some of its wealthiest residents. South Korea is also expected to see a significant net outflow of HNWIs in 2025 (-2,400).
On a positive note, Asia is home to one of the world's most powerful economic engines, according to Dr. Parag Khanna. Asia, particularly Vietnam and Taiwan, continues to attract attention as promising destinations for HNWIs, with their dynamic economies and growing opportunities.
Southeast Asia's New Safe Haven
Thailand is rapidly emerging as Southeast Asia's new safe haven for HNWIs, offering stability and attractive investment opportunities.
Middle East's Wealthy Exodus
The Middle East is also experiencing a shift, with Iran losing HNWIs to the UAE (-200), and Lebanon facing concerning losses, with many wealthy individuals relocating to Cyprus, Greece, and the UAE (-200). Israel, however, is expected to show relatively modest outflows (-350), primarily to the US.
Europe's Attraction
European countries are forecast to see record inflows of millionaires. The United Kingdom, Switzerland, and Portugal are expected to receive the highest number of millionaire migrations after 2025, according to the Henley Private Wealth Migration Report 2025. Italy, Portugal, and Greece are also forecast to see record inflows of +3,600, +1,400 and +1,200, respectively, millionaires.
The UAE and Saudi Arabia's Gain
The United Arab Emirates retains its crown as the world's leading wealth magnet, with a record net inflow of 9,800 relocating millionaires expected this year. Saudi Arabia is projected to see a net inflow of 2,400 new millionaires in 2025.
Latin America's Wealth Drain
Latin America is experiencing a sizeable wealth drain, with Brazil and Colombia both expected to see significant outflows. Popular destinations for departing millionaires include the US, Portugal, the Cayman Islands, Costa Rica, and Panama.
The UK's Millionaire Exodus
The UK is expected to see the largest net outflow of HNWIs by any country since 2012, with wealthy individuals such as Richard Gnodde, Nassef Sawiris, and Charlie Mullins already departing. The UK is forecast to lose a staggering -16,500 millionaires in 2025.
BRICS' Stable Trend
BRICS nations - China, India, Russia, and South Africa - are all on track to record their lowest net millionaire losses since Covid, signalling a more stable trend in these regions.
In conclusion, the global wealth landscape is undergoing significant changes, with HNWIs seeking new destinations for their residences. Countries offering stability, attractive investment opportunities, and a favourable business environment are emerging as popular destinations, while others are experiencing a net outflow of millionaires.
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