Millionaire migration

Approximately 128,000 of the world’s millionaires migrated to another country in 2024.

According to Henley and Partners, a company that has "pioneered the industry of selling citizenship and passports",

“

The benefits of this migration of wealth and talent to these countries are wide ranging, and include: Forex revenue: Migrating millionaires are a vital source of forex revenue as they tend to bring their money with them when they move to a new country. For instance, a migrant who brings USD 10 million with them is equivalent to a country generating USD 10 million in export revenue as both transactions generate USD 10 million of forex revenue for the country. New business: Many relocating high-net-worth individuals (around 20%) are entrepreneurs and company founders, who often start businesses in their new country and therefore create local jobs. This percentage rises to over 60% for centi-millionaires and billionaires. Stock markets: Millionaires boost the local stock market via their equity investments. Also, some high-net-worth business owners publicly list their companies on the local stock exchange. Job creation: Perhaps most importantly, high-net-worth individuals indirectly create thousands of well-paying jobs via their spending power, especially in high-value sectors such as luxury hotels, fine dining, luxury retail, fashion, hi-tech, automotive, prime property, wealth management, and family offices.

”

Millionaires fleeing China

According to Visual Capitalist, "China’s economic trajectory and geopolitical tensions have led millionaires to leave the country. China saw the world’s biggest outflow of high-net-worth individuals last year and is expected to see a record exodus of 15,200 in 2024."

External links

• Millionaires on the move: Where are the world's rich migrating to in 2024?, Business Standard, 2024
• Mapped: Millionaire Migration in 2024, Visual Capitalist