China to see biggest millionaire exodus in 2024 as many head to U.S.
'Perfect storm' of tensions and uncertainty spurs record global wealth shift, report shows.
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'Perfect storm' of tensions and uncertainty spurs record global wealth shift, report shows.
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China and the UK are among the countries losing wealthy individuals.
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The UK is on track to lose 9,500 millionaires this year, more than any country in the world except China, according to a new report on the migration intentions of the world’s wealthy.
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A record number of millionaires could leave the United Kingdom this year as political turmoil and the potential for higher taxes under a future Labour government reduce the appeal of what was once among the top destinations for the rich.
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Henley & Partners’ latest Private Wealth Migration Report 2024 predicts that 9,500 millionaires are expected to leave the U.K.
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Wealthy individuals are no longer choosing to call the UK home in response to policy changes such as the abolition of the non-dom tax regime.
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UK will lose the second-most millionaires of any country – overtaken only by China.
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An estimated 128,000 millionaires are expected to migrate this year.
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Recently, there has been a noticeable growth in the number of African nationals pursuing European residence by investment.
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Visa applicants from Africa who want to visit Europe’s Schengen Area face far higher rejection rates than people from anywhere else in the world.
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Many people are considering a foreign residency or citizenship for a host of political, economic, and social reasons.
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From booming sectors like fintech and eco-tourism to the rise of investment migration, discover how this vibrant continent is evolving.
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Sarah Nicklin
sarah.nicklin@henleyglobal.com
+27 21 879 1086
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