UAE To Attract 4,500 Millionaires This Year
The UAE’s reputation as a haven for the global wealthy will see it attract 4,500 new millionaires this year, according to the Henley & Partners Private Wealth Migration Report 2023.
The UAE is second, behind Australia, in an international ranking of high-net-worth individuals published by the global wealth tracker and residency experts.
Henley & Partners said there has been a steady growth in millionaire migration over the past decade, with global figures for 2023 and 2024 expected to be 122,000 and 128,000, respectively.
Dr. Juerg Steffen, CEO of Henley & Partners, said: “In general, wealth migration trends look set to revert to pre-pandemic patterns this year, with Australia reclaiming the top spot for net inflows as it did for five years prior to the Covid outbreak, and China seeing the biggest net outflows as it has each year for the past decade.
“The notable exceptions are former top wealth magnets, the UK and the US.”
The report tracks the movements of dollar millionaires (namely, HNWIs with investable wealth of $1m or more who relocate to and the number who emigrate from a country).
