According to the current Henley Global Citizens Report, the UAE is predicted to eclipse the most popular locations for the wealthy, such as the United States, the United Kingdom, and Russia, by drawing the greatest net inflows of millionaires internationally in 2022.
The country already boasts 92,600 US-dollar millionaires, 4,000 multi-millionaires valued at more than $10 million, 251 centi-millionaires (over $100 million), and 14 US-dollar billionaires. This year, around 4,000 more millionaires are predicted to relocate to the UAE than depart, representing one of the country’s highest millionaire net inflows on record.
The UAE is anticipated to have the greatest net influx of HNWIs in the world in 2022, with 4,000 expected, a 208 percent increase over 2019’s net inflow of 1,300 and one of the highest on record. Affluent Russians eager to escape the crushing Western sanctions on their nation have begun to migrate in significant numbers to the UAE and Israel.
There are various reasons why wealthy people may migrate to the UAE. Among the country’s key sectors are financial services, oil and gas, real estate, travel and tourism, technology, and healthcare. Along with Monaco and Bermuda, UAE citizens will benefit from some of the most advantageous tax rates in the world.
The United Arab Emirates (UAE) is a well-known luxury destination, with high-end properties as well as world-class shopping complexes and cafes. For families with children, there are thriving worldwide schools. The UAE is a family-friendly location, featuring beaches, yachts, and water sports, as well as an abundance of leisure activities. The Kingdom of Saudi Arabia’s economic and social advancements have also made its premium residency project appear increasingly enticing to the worldwide community of high-net-worth individuals.
The United Kingdom, once hailed as the world’s financial center, continues to lose billionaires, with net outflows of 1,500 expected in 2022. The US still draws more HNWIs than it loses to emigration, with a net inflow of 1,500 millionaires expected for 2022, a shocking 86 percent decline from 2019 levels, which saw a net inflow of 10,800 millionaires, according to the research.
The ten nations with the biggest net outflows of HNWIs are Russia, China, India, Hong Kong, Ukraine, Brazil, the United Kingdom, Mexico, Saudi Arabia, and Indonesia.
