How many millionaires have left the UK?

However, this trend began to reverse around a decade ago as more millionaires began to leave the country and fewer came in. Notably, during the six-year period from 2017 to 2023 post Brexit the UK has lost 16,500 millionaires to migration.

How many millionaires are leaving the UK?

Record 9,500 millionaires expected to leave the UK this year

Recently published research¹ highlights the highest ever outflow of millionaires from the UK, more than doubling the 4,200 who left the country last year - which was itself the highest number on record.

How many millionaires has the UK lost?

The Henley Private Wealth Migration Report 2025 forecasts a net loss of 16,500 high-net-worth individuals (HNWIs) from the UK this year, the highest such outflow ever recorded by the firm in the past decade of tracking global wealth migration trends.

Which country has the most millionaires leaving?

The UK and China are seeing the biggest millionaire outflows

While some countries are booming, others are bleeding wealth. The UK is projected to see a net outflow of 16,500 millionaires — the largest of any country — followed by China and India, whose respective outflows stand at 7,800 and 3,500.

Where are UK millionaires relocating to?

Where are UK millionaires relocating to? Popular destinations include the UAE, USA, Switzerland, Italy, Portugal, Greece, and Saudi Arabia. These countries offer favourable tax treatment, investor visa routes, and potentially, greater fiscal stability.

Millionaires are leaving the UK. Does it matter? | LBC debate

Who is considered wealthy in the UK?

Median household wealth in Great Britain was £293,700. The wealthiest 10% of households had household wealth of £1,200,500 or more, while the least wealthy 10% had £16,500 or less.

What is the best country to live in if you are rich?

1. Switzerland. Switzerland takes the top spot for expats looking to grow their wealth. There's good pay and the opportunity for career progression and an improved quality of life.

Where do rich people leave their money?

Moreover, according to a study by Bank of America, millionaires keep 55% of their wealth in stocks, mutual funds, and retirement accounts. Millionaires and billionaires keep their money in different financial and real assets, including stocks, mutual funds, and real estate.

Why are millionaires moving to Italy?

Discover why the flat tax regime, fiscal advantages, and luxury real estate opportunities are driving this unprecedented wealth migration to Italy. A growing number of millionaires, super-rich, and ultra-wealthy investors are moving to Italy, driven by its attractive flat tax regime and lifestyle appeal.

How rare is it to be a millionaire in the UK?

In 2015, the UK was home to 609,900 liquid millionaires, yet by 2022 there were 612,300. Now, there are 8% fewer than in 2007.

Why are wealthy people leaving the UK?

News stories in recent months have claimed that more than 16,500 millionaires are expected to leave the UK in 2025 due to the country's increasing tax burden. Notably, the abolition of “non-dom” tax rules has been touted as one of the reasons for this “millionaire flight”.

What percent of the UK is rich?

Wealth inequality is high and rising and more marked than income inequality. In the UK, the bottom 50% of the population owned less than 5% of wealth in 2021, and the top 10% a staggering 57% (up from 52.5% in 1995). The top 1% alone held 23% (World Inequality Lab, 2022).

Why is the UK losing so many millionaires?

The UK is set to lose 16,500 millionaires in 2025, more than any other country on record. Tax hikes and declining economic confidence are driving the rich away, according to Henley & Partners. The UAE, the US, and most of southern Europe have emerged as new millionaire magnets.

How rich to be in the 1 percent UK?

To be in the top 1% of income tax payers in the UK (i.e. to be among the 310,000 individuals with the highest income), a taxable income of at least £160,000 is required. £236,000 is required to be in the top 0.5% and nearly £650,000 to be in the top 0.1%.

What bank do most millionaires use?

What country has the most millionaires leaving?

Where Millionaires Are Leaving. The United Kingdom tops the list of net outflows, with 16,500 millionaires expected to leave in 2025. That's nearly double the outflow from China, which ranks second with a net loss of 7,800 HNWIs.

What is the hardest country to live in financially?

Why are millionaires moving to Greece?

Greece's pitch to the wealthy is potent: natural beauty that's hard to rival, millennia of cultural cachet, and a Golden Visa program that grants residency through real estate or business investments. For €250,000 – still modest by global luxury standards –buyers can secure a foothold in the EU.

What salary is considered upper class in the UK?

To be in the top 10% of earners (which is what I call 'Upper Class') you'll need to be on a salary of £58,800 pa. Which works to a monthly take-home pay of £3,330 after student loans (£236 deduction) and before any pension contributions.