This year, the United States is projected to welcome a net addition of approximately 7,500 foreign millionaires, who collectively possess an estimated wealth of around $43.7 billion. In contrast, the United Kingdom faces a notable exodus of affluent individuals.
By 2025, about 142,000 millionaires worldwide are anticipated to relocate to new countries. The nations poised to see the highest influx of wealthy migrants are identified as the United Arab Emirates, the United States, Italy, Switzerland, and Saudi Arabia, as highlighted in a recent provisional report by investment consulting firm Henley & Partners.
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The migration of millionaires yields various benefits, including contributions to foreign exchange revenue, the establishment of new businesses, enhancements to local stock markets and the middle class, and the indirect creation of jobs through their spending. The report notes that these individuals can also generate a multiplier effect on wealth growth.
The UAE leads the migration trend, anticipating a net influx of about 9,800 millionaires who are expected to contribute approximately $63 billion in wealth. This Middle Eastern nation has experienced a remarkable 98% surge in millionaires from 2014 to 2024, attributed to its “welcoming immigration policy,” absence of income tax, robust infrastructure, and political stability, as stated by Henley & Partners.
The U.S. secures the second spot, gaining 7,500 millionaires carrying approximately $43.7 billion in wealth. Over the past decade, from 2014 to 2024, the country has witnessed a 78% growth in its millionaire population. The report attributes this trend to the EB-5 Immigrant Investor Program, established in 1990 and responsible for over $50 billion in foreign direct investment, alongside an “entrepreneurial ecosystem” that excels in fostering transformative growth.
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Italy ranks third, expected to gain 3,600 millionaires with a cumulative wealth of $20.7 billion. Between 2014 and 2024, the number of millionaires in Italy has surged by 20%.
Switzerland follows as the fourth largest recipient, with projections of 3,000 new millionaires and an expected wealth of approximately $16.8 billion. The nation has experienced a 28% increase in its millionaire demographics over the past decade.
Saudi Arabia stands fifth, anticipating the arrival of 2,400 millionaires possessing an estimated wealth of $18.4 billion. From 2014 to 2024, the country has observed a 55% uptick in its millionaire population.
Conversely, several countries, including the U.K., China, India, South Korea, and Russia, are facing millionaire outflows.
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The U.K. ranks lowest on the list, expected to see a net departure of 16,500 millionaires who will take away around $91.8 billion in wealth. Over the same decade, the U.K. has recorded a 9% decrease in its millionaire count.
China is also expected to witness a loss of 7,800 millionaires, taking with them $55.9 billion in wealth, despite the country’s own 74% millionaire increase from 2014 to 2024.
India ranks third from the bottom, with a net outflow of 3,500 millionaires holding an estimated wealth of $26.2 billion. The number of millionaires in India has seen a 72% increase during this same timeframe.
South Korea is fourth from the end, anticipating an outflow of 2,400 millionaires with a total wealth of $15.2 billion. The nation has recorded a 17% rise in millionaire population over the past decade.
Lastly, Russia is forecasted to see a loss of 1,500 millionaires, taking with them $14.7 billion in wealth. The country has experienced a 25% decline in its millionaire population between 2014 and 2024.
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According to UBS’s latest Global Wealth Report, the U.S. added over 379,000 new millionaires in 2024 alone, raising the total millionaire count in the country by 1.5% to 23.8 million.
