The UK is set to lose 16,500 millionaires in 2025, a report from Henley & Partners has revealed.
It is the largest net outflow of high net worth individuals by any country since Henley & Partners began tracking millionaire migration 10 years ago.
According to the Henley Private Wealth Migration Report 2025, the UK figure is more than double the anticipated 7,800 net outflow from China, which ranked second this year after topping the leaderboard every year for the past decade.
In total, a record-breaking 142,000 millionaires are projected to relocate internationally this year.
The report found the UAE retains pole position as the world’s leading wealth magnet, with a record 9,800 millionaires expected to relocate to the region this year. The US came second, with an anticipated inflow of 7,500.
Dr Juerg Steffen, CEO at Henley & Partners, said the figures highlight the rising influence of strategic wealth management on global economic shifts.
He said: “2025 marks a pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows. This isn’t just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom and stability lie elsewhere.
“The long-term implications for Europe and the UK’s economic competitiveness and investment appeal are significant.”
The report found that for the first time, France, Spain and Germany are all expected to see net HNWI losses in 2025, with outflows of 800, 500 and 400 millionaires respectively.
Beneficiaries of this trend include Switzerland, which is forecast to take in 3,000 migrating millionaires this year, as well as Italy, Portugal and Greece.
Meanwhile, traditional destinations such as Singapore, Australia, Canada and New Zealand also appear to be losing their appeal for wealthy entrepreneurs, with their lowest net inflows on record provisionally expected in 2025.
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