For the third year running, the UAE looks set to take first place as the world’s leading wealth magnet, with a record-breaking 6,700 moneyed migrants expected to make the Emirates home by the end of the year
The average growth in millionaires in the decade from 2013 to 2023 for the Top 15 wealthiest countries (W15) in Henley & Partners’ country wealth rankings was 36%.
What stands out is the 92% growth in China’s high-net-worth individual population, 85% in India’s, and 62% in the USA’s, which highlights how strongly correlated millionaire growth is with economic development
High-net-worth families see certain global cities, such as London, New York, Singapore, and Dubai, as attractive places to settle in for reasons such as legal and regulatory access, quality of life, healthcare, education, and safety
Unsurprisingly, the list of stable countries with a high quality of life, which see inflows of the rich, especially if there is instability elsewhere, also features Canada, Australia, and Italy.