A record-breaking exodus of high-net-worth individuals (HNWIs) — those with over $1 million in liquid assets — is underway in 2025.
Around 142,000 millionaires are expected to relocate to new countries this year, with projections indicating that number will rise to 165,000 by 2026.
While many might assume destinations like Saudi Arabia, Qatar, or Kuwait are the biggest draws, the Muslim nation attracting the highest number of wealthy migrants is, surprisingly, the United Arab Emirates (UAE).
According to the Henley Private Wealth Report 2025, the UAE is set to welcome a net inflow of 9,800 millionaires this year — a 5.8% increase over 2024 — making it the top destination globally for wealthy migrants.
The United States ranks second with an estimated 7,500 millionaire relocations.
Italy and Switzerland follow with 2,200 and 1,500, respectively. Saudi Arabia is also climbing the list, expecting 2,400 new HNWIs this year.
Other countries drawing affluent individuals include Australia, Singapore, and Portugal, thanks to their structured investment migration programs.
Meanwhile, India is projected to lose 3,500 millionaires in 2025, continuing a trend of wealth migration out of the country. However, shifting tax regimes and return migration may influence this pattern in the years ahead.
Why the UAE?
Despite tensions in the Middle East, particularly following the Israel-Iran conflict, the UAE continues to be seen as a safe haven for the wealthy. Its appeal lies in several key advantages.
The country does not impose an income tax, making it financially attractive. It has investor-friendly immigration policies and a reputation for political stability. Its world-class infrastructure and global connectivity further enhance its appeal.
Experts say the UAE consistently acts as a magnet for millionaires — especially during times of regional crisis — because it offers both financial security and luxury living.
The U.S., which ranks second, remains attractive due to its EB-5 Immigrant Investor Program, which has so far generated over $50 billion in foreign investment and created thousands of jobs.
As global wealth becomes increasingly mobile, the UAE is positioning itself as the most attractive destination for the world's elite — and India’s millionaires are among those making the move.
