UAE Tops Global Wealth Magnet List, Europe Shifts as UK Loses Millionaires
The UAE maintains its position as the world's leading wealth magnet, attracting a record 9,800 millionaires this year. Meanwhile, Europe sees significant shifts, with Southern Europe emerging as a new hub and traditional wealth centers like the UK experiencing net outflows.
The UAE's appeal continues to grow, with a net inflow of 9,800 millionaires expected in 2025. In contrast, Europe faces a reshuffling of its wealth map. Southern European countries like Italy, Portugal, Greece, and Monaco are forecast to see record inflows, while traditional hubs like France, Spain, Germany, Ireland, Norway, and Sweden are expected to lose millionaires.
The UK, once a net magnet, is now a net exporter of millionaires. Labour's aggressive tax policies are driving high-net-worth individuals and their businesses out of the country, raising concerns about its long-term economic competitiveness. The UK is projected to lose a record -16,500 millionaires in 2025, more than double the anticipated outflow from China. Popular destinations for wealthy Britons include the UAE, Monaco, Italy, Greece, Portugal, and Switzerland.
Montenegro tops global millionaire growth over the past decade, with a remarkable 124% increase in resident millionaires, largely driven by its citizenship by investment program.
The UAE continues to dominate as the world's leading wealth magnet, while Europe experiences significant changes. The UK's shift from a net magnet to a net exporter of millionaires raises economic concerns, as wealthy individuals and their capital seek more favorable environments elsewhere.
Read also:
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Skechers Debuts First American Stores Focused on Athletic Footwear Performance
- Budget discrepancy jeopardizes highway projects' financial support
- Racing ahead in Renewable Energy Dominance: Changzhou, Jiangsu Pushes for Worldwide Renewable Energy Ascendancy
