The UAE drew over 6,700 millionaires in 2024 — more than any other country in the world.
The UAE, which has solidified its position as the premier destination for high-net-worth individuals globally in 2024, is on track to repeat the feat in 2025 with projections indicating a major surge in global wealth migration.
Looking ahead to 2025, projections indicate an even greater surge in millionaire migration as 142,000 high-net-worth individuals with liquid investable wealth of $1 million or more are expected to seek new horizons.
In 2024, driven by robust inflows to the UAE, USA, and Italy, alongside higher-than-expected departures from the UK, 134,000 HNWIs relocated and established new domiciles worldwide. Data from various sources confirm.
The landscape of wealth migration underwent another transformative year in 2024, exceeding initial forecasts, with the UAE become the prime location for millionaire migration, wealth management experts said.
The UAE drew over 6,700 millionaires in 2024 — more than any other country in the world. This should not come as a surprise, as the UAE has been a top contender in attracting private capital and talent for quite some time. However, since investment-based migration is increasingly driven by a confluence of economic, geopolitical, and domestic social factors, the UAE provides a reliable, safe, and appealing environment for high-net-worth families.
The UAE stands as a prime example of this new paradigm. Its golden visa program, coupled with crypto-friendly policies and world-class infrastructure, has created a powerful draw for global wealth. Similar success stories are unfolding in Singapore, where sophisticated financial frameworks meet political stability, and in select Mediterranean nations that combine lifestyle benefits with attractive tax policies.
Real estate continues to play a central role in investment migration, but with a notable evolution.
“Today’s programs increasingly emphasize sustainable development and technology integration. Properties that once served purely as investment vehicles now function as multi-purpose assets — combining residence rights with income potential and lifestyle benefits,” said Steffen.
The UAEs economic resilience, favourable tax policies, and world-class infrastructure, combined with its strategic location and political stability make it an ideal destination for global wealth and investment. There are multiple reasons behind the UAE’s attractiveness, such as premium real estate, investor friendly frameworks, large industrial announcements, and a highly sought-after residence by investment initiative, or golden visa.
Looking ahead to 2025, projections indicate an even greater surge in millionaire migration. The magnitude of this shift becomes clearer when viewed against the backdrop of recent years. From a pre-pandemic peak of 110,000 mobile millionaires in 2019, we saw numbers plummet during the Covid-induced paralysis of 2020. The subsequent recovery has been nothing short of remarkable, with current figures representing a fundamental reshaping of global wealth flows.
In this evolving landscape, investment migration provides both a pathway to enhanced mobility and a bridge to opportunity in an increasingly complex and fast-changing world. The record numbers of millionaires on the move that we anticipate in 2025 reflect not just a sharp increase in wealth migration but a fundamental shift in how global citizens position themselves for the future.