Global Wealth Migration: 1.34 Lakh High Net-Worth Individuals Relocated In 2024

The landscape of wealth migration experienced a transformative year in 2024, with 1.34 lakh high-net-worth individuals relocating and establishing new domiciles worldwide.

This figure exceeded earlier projections, driven by strong inflows to the UAE, US and Italy, coupled with significant departures from the UK, according to Henley & Partners' annual outlook report.

It added that 2025 is set to witness an even greater surge, with an estimated 1.42 lakh HNWIs with liquid investable wealth of $1 million or more projected to migrate,

This marks the largest wave of wealth migration ever documented, reflecting a fundamental shift in how affluent individuals approach geographic and financial planning.

Since 2013, the number of millionaires on the move has risen from 51,000 to an estimated 1.42 lakh in 2025 — an impressive 178% growth. The pre-pandemic peak of 1.1 lakh mobile millionaires in 2019 plunged during the Covid-19 crisis in 2020 but has since rebounded remarkably, according to the report.

Factors Behind Trend

Henley & Partners identified several key factors contributing to this trend, including global turmoil, geopolitical instability and financial uncertainty.

Digitalisation and investment migration programmes have further propelled the rise of global citizens. Enhanced digital connectivity has removed traditional barriers, enabling seamless communication and collaboration across continents. High-net-worth individuals are increasingly leveraging global membership networks to exchange ideas, forge partnerships and access opportunities without geographical constraints.

Jurisdictions like Malta, Monaco, Singapore, Switzerland and the UAE — dubbed the "Safe Haven 8" — are attracting HNWIs with their high-quality living standards, robust infrastructure, and tax incentives. Paul Demircioglu, director of Civis Mundi, emphasised the importance of these hubs, saying: "This mobility allows individuals to diversify assets, mitigate geopolitical risks, and embrace a lifestyle defined by global aspirations."

Political, Economic Influences

The 2024 historic election super-cycle, with national polls held in over 70 countries affecting nearly half the world's population, further spurred wealthy individuals to explore diverse domiciles. Ongoing conflicts and economic volatility have compelled the HNWIs to seek strategic safe havens.

The UAE stands out as a key beneficiary of this trend. Its golden visa programme, crypto-friendly policies, and world-class infrastructure have made it a powerful magnet for global wealth. Similarly, Singapore combines sophisticated financial frameworks with political stability, while select Mediterranean nations attract HNWIs with lifestyle benefits and favorable tax policies.

Real Estate 

Real estate remains central to investment migration but is evolving. Programmes now focus on sustainable development and technology integration, transforming properties into multi-purpose assets offering residence rights, income potential and lifestyle benefits.

"The investment migration sector, worth EUR 20 billion, has matured into a sophisticated wealth planning tool, facilitating global capital flows and economic development," Juerg Steffen, chief executive officer of Henley & Partners, said.

Not all jurisdictions have retained their appeal. The UK, once a top destination for the wealthy, has seen dramatic declines. In 2022, it experienced a net departure of 1,600 HNWIs, which doubled to 3,200 in 2023 and nearly tripled to 9,500 in 2024. This trend underscores the need for jurisdictions to adapt and innovate to attract and retain wealthy investors.