Europe

“Millionaire migration of the biggest next year”

According to a new report, the United Arab Emirates will overtake the United States by attracting the largest number of millionaires migrating in 2022, but Monaco remains a very attractive option.

The United Arab Emirates will be the top spot for HNWIs this year, according to the latest Henry Global Citizens Report, which tracks trends in personal wealth and investment immigrants around the world.

In the second quarter report, the net inflows and outflows of US dollar millionaires predicted in 2022, that is, the number of wealthy people migrating to a country and the number of wealthy people migrating to a country, predicted by New World Wealth. I’m talking about the differences.

This year, the world’s top 10 hotspots for new wealthy immigrants are the UAE, Australia, Singapore, Israel, Switzerland, the United States, Portugal, Greece, Canada and New Zealand. Many millionaires are also expected to move to traditional haunts in Monaco, Malta and Mauritius.

This year’s loser is, of course, Russia, with the immigration rate of wealthy individuals rising significantly to 15% nationwide over the past six months. The war triggered this stampede and affected Ukraine. Other countries with spills are China, India, Hong Kong, Brazil, United Kingdom, Mexico, Saudi Arabia and Indonesia.

By the end of 2022, Dr. Juerg Steffen, CEO of Henley and Partners, expects 88,000 millionaires to move to a new country, 22,000 less than before the 2019 pandemic, but this number is expected to increase. increase. “Next year (2023), the largest billionaire migration flow (125,000) on record is projected as wealthy investors and their families are seriously preparing for the new postcovid world order.”

The UK forecasts a net outflow of 150 billion millionaires, in addition to post-Brexit losses, for a total of 12,000 millionaires remaining after 2017. The United States is not very popular with the ultra-rich, mainly because of its high taxes. Still, in 2022 we will see a net profit of 1,500.

Professor Trevor Williams, a former chief economist at Lloyds Bank Commercial, said emerging economies are expected to flourish over the next decade. “The number of HNWIs in Sri Lanka is projected to increase by 90% by 2031, while Millionaire growth in India and Mauritius is 80%, China is 50%, compared to 20% in the United States and 10 in France. %. Germany, Italy, United Kingdom. “

The United Arab Emirates expects a spectacular 208% increase, which represents 4,000 new wealthy residents, primarily from Russia.

“Long before sanctions were imposed on Russia’s banking system, President Vladimir Putin’s increasingly whimsical style of governance and demands of loyalty to the middle class and wealthy Russians led to the capital leaving the country. There was a tsunami, “said award-winning journalist Misha Glennie.

 

Photo by ZQLee from Unsplash

 

 

 

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