UK to Lose Record Number of Millionaires in 2025 as Wealth Migration Surges
The UK is set to lose a record number of millionaires this year, with a staggering 16,500 high-net-worth individuals (HNWIs) expected to relocate internationally. This is more than double the anticipated net outflow from China, highlighting the significant impact of aggressive tax policies on wealth migration.
The UK's loss is expected to be other countries' gain. EU heavyweights such as France, Spain, and Germany are also forecast to see net HNWI losses in 2025, with many affluent Europeans relocating to more investor-friendly hubs. Meanwhile, the UAE retains its crown as the world's leading wealth magnet, with a record net inflow of 9,800 relocating millionaires expected this year.
The UAE's appeal lies in its political stability, steuervorteile, first-class infrastructure, and high living standards. Other top destinations for 2025 include Australia, Singapore, the USA, and Switzerland. These countries offer a mix of political stability, low taxes, strong economies, and high-quality living conditions. However, traditional destinations such as Singapore, Australia, Canada, and New Zealand appear to be losing their appeal for wealthy entrepreneurs.
The UK's significant net outflow of HNWIs in 2025 has serious implications for its economic competitiveness and investment appeal. As the UAE and other countries benefit from the UK's loss, the UK government may need to reconsider its aggressive tax policies to stem the tide of wealth migration.
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