Henley Global Citizens Report

A bespoke publication for anyone who follows wealth and investment migration trends — from high-net-worth and ultra-high-net-worth investors and their advisors, to industry professionals, to policy makers looking to manage programs to achieve economic growth. Featuring exclusive private wealth data from New World Wealth alongside global and regional insights by investment migration industry leaders and experts in wealth, migration, and mobility, this is a must-read for anyone interested in residence or citizenship by investment.

The world’s 10 wealthiest countries by total private wealth in 2022

In this inaugural Henley Global Citizens Report, exclusive data from global wealth intelligence firm New World Wealth confirms the 10 wealthiest countries in the world in 2022 by total wealth (the W10). Total wealth refers to the private wealth held by all individuals living in the country, including all their assets (property, cash, equities, business interests) less any liabilities. Read more.

W10 private wealth statistics

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W10 millionaire (HNWI) growth

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Note: Figures for December 2021

Wealth and financial health

Notably, we consider wealth to be a far more effective measure of an economy’s financial health than gross domestic product. There are multiple reasons for this: A large portion of gross domestic product in many developing countries flows to the government and has little impact on private wealth creation. Gross domestic product counts items multiple times (for instance, if someone is paid USD 100 for a product or service and they then pay someone else that USD 100 for another product or service, USD 200 is added to the country’s gross domestic product, although only USD 100 was produced at the outset). Gross domestic product also ignores the local banking sector and stock market’s efficiency in retaining wealth in a country, and it largely ignores the impact of real estate and stock market moves, which both have a massive impact on wealth. Gross domestic product is also a fairly static measure that tends to move only slightly year on year. As a result, it is not a great gauge of an economy’s performance.

Wealth figures, on the other hand, do not have any of these limitations, making them a far better indicator of the financial health of an economy.

Investment migration — a win-win for states and investors

The benefits of investment migration tend to be cumulative, reinforcing, and resilience-boosting. For sovereign states, they generate positives that are interrelated, such as increased tax revenues, infrastructure development, better fiscal performance, and reduced dependence on debt and aid. For investors, over and above the traditional benefits of enhanced global mobility, residence and citizenship by investment programs present an established diversification strategy in terms of wealth and legacy management and domicile optionality, and many include the option to invest in real estate, which also offers multiple yields.

The Henley Global Citizens Report 2022 Q1 was published on 22 March 2022.

Henley Global Citizens Report Q3 2022 Q2 2022 Q1 2022