In 2025, the UK is projected to lose a staggering 16,500 millionaires, more than any other country, according to the Henley Private Wealth Migration Report. This represents an unprecedented exodus, more than double that of China, marking a significant shift in wealth migration trends. Factors contributing to this trend include rising tax burdens and diminishing economic confidence, alongside perceptions that countries like the US, UAE, and southern Europe offer better opportunities. The implications for the UK's economic competitiveness are substantial, raising concerns among experts about its attractiveness for wealthy migrants.
"2025 marks a pivotal moment," says Juerg Steffen, CEO at Henley & Partners. "For the first time in a decade of tracking, a European country leads the world in millionaire outflows."
"Britain's appeal is waning - its global standing as a magnet for the world's wealthiest is being eroded by a combination of policy inaction and economic uncertainty," he noted.
"The long-term implications for Europe and the UK's economic competitiveness and investment appeal are significant," he said, indicating concern over the future.
"This marks the highest millionaire exodus ever recorded from any country since Henley & Partners began tracking data 10 years ago."
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