The UK is on track to lose more millionaires this year than any other country in the world, according to a new global wealth migration report that underscores growing concerns over the nation’s economic competitiveness and high-tax environment.
Henley & Partners, a specialist advisory firm, forecasts that 16,500 millionaires will leave Britain in 2025, more than double the 7,800 expected to exit China — which had previously topped the list for 10 consecutive years. The exodus from the UK represents a 73% increase on the 9,500 projected to leave in 2024, and places Britain at the top of the global ranking for high-net-worth individual (HNWI) outflows for the first time since the study began.
The report defines millionaires as those holding over $1 million (£740,500) in liquid, investable assets.
While the United Arab Emirates is forecast to gain the most HNWIs this year (+9,800), followed by the United States (+7,500) and Italy (+3,600), Britain faces the largest net loss of wealth due to migration — a trend experts say could have significant economic consequences.
“This isn’t just about changes to the tax regime,” said Henley & Partners CEO Dr Juerg Steffen. “It reflects a deepening perception among the wealthy that greater opportunity, freedom and stability lie elsewhere.”
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