3 days ago
- Business
- Business Recorder
UAE set to welcome 9,800 millionaires in 2025, solidifying position as wealth hub
UAE is set to see the largest millionaire inflow in 2025 - about 9800 individuals - including from Pakistan, as it continues to remain the most favored Asian economy the world's wealthiest see as a save haven, according to The Henley Private Wealth Migration Report 2025, published on Tuesday.
UAE's tax-friendly policies, strategic location, ease of doing business and visa access are facilitating this move, as the expanding wealth hubs of Dubai, Florida, Milan, St. Julian's, Lisbon, remain favored among the wealthy.
UAE is also set to welcome millionaires from Lebanon and Iran following Middle East tensions.
UAE is also part of the 'Safe Haven 8' – safe haven markets of the world, namely, Switzerland, Singapore, the UAE, Malta, Monaco, New Zealand, Australia, and Mauritius, which have all positively transformed their economies by encouraging wealthy people to move there.
It was also marked as the world's second fastest growing wealth market achieving 98% growth over the past decade following Montenegro (124%).
Europe
London is expected to the largest outflow with a projected 16,500 millionaires set to migrate in 2025, mainly driven by poor economic performance over the last decade.
This is followed by China (-7800), India (–3,500) and Russia (–1,500).
For the first time, EU nations France, Spain, and Germany are expected to see net High Net Worth Individuals (HNWI) losses in 2025 — with projected net outflows of –800, –500, and –400 millionaires, respectively. Ireland (–100), Norway (–150), and Sweden (–50) are also beginning to see significant wealth losses, with many affluent Europeans relocating to more investor-friendly hubs on the continent, added the report.
Key beneficiaries of this trend are USA (7500), Italy (3600) and Switzerland, set to attract a net gain of +3,000 migrating millionaires this year, while Italy, Portugal, and Greece are also forecast to see record inflows.
Asia
Dr. Parag Khanna, best-selling author and founder and CEO at AlphaGeo, said, 'As 2025 unfolds, Asia is set to remain at the center of global wealth trends, shaped by economic dynamism, policy innovation, and the ever-present search for security and growth,' as noted in the press release issued by Henley.
Traditional destinations such as Singapore (+1,600), Australia (+1,000), Canada (+1,000), and New Zealand (+150) appear to be losing their appeal for wealthy entrepreneurs, with their lowest net inflows on record provisionally expected in 2025.
Thailand (+450) is rapidly emerging as Southeast Asia's new safe haven, with Bangkok positioning itself as a key rival to Singapore.
Why millionaire migration matters
Wealthy migrants will notably add foreign exchange, new business, jobs, a well as encourage more wealth migration by driving up asset prices and investing in the stock exchange.
Many relocating high-net-worth individuals (around 15%) are entrepreneurs and company founders, who often start businesses in their new country, thereby creating local jobs, especially in high-value sectors such as luxury hotels, fine dining, luxury retail, high-end fashion, prime property.
