UAE holds top spot for world's wealthiest expats: Henley

The UAE is "the world's leading millionaire magnet", according to a report released overnight by Henley Global.

The Henley Private Wealth Migration Report 2024 shows the UAE retaining top spot for most favoured destination of expat high-net-worth-individuals (HNWIs). 

"For the third year running, the UAE looks set to take first place as the world’s leading wealth magnet, with a record-breaking 6,700 moneyed migrants expected to make the Emirates home by the end of the year, significantly boosted by large inflows from the UK and Europe," the report outlines.

For the purposes of this report they define a HNWI as having liquid investable wealth of USD 1 million or more.

Henley & Partners say it is the UAE's zero income tax, golden visas, luxury lifestyle and strategic location that are the reasons behind the UAE's popularity among the world's high-rollers.

China is the country predicted to have the biggest outflow of wealthy expats with an anticipated net exit of 15,200 HNWIs.

The UK follows with an expected, and Henley says unprecedented, net loss of 9,500 millionaires in 2024 to an expat lifestyle.

The report's authors Henley and Partners are an international investment migration advisory company.