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Home Visual Capitalist

Ranked: The Countries Gaining and Losing Millionaires in 2025

Visual Capitalist by Visual Capitalist
July 8, 2025
in Visual Capitalist
Reading Time: 13 mins read
129
A A
0

Marcus Lu
2025-07-08 08:11:00
www.visualcapitalist.com

See this visualization first on the Voronoi app.

Use This Visualization

Countries Gaining and Losing Millionaires in 2025

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

  • This graphic breaks down millionaire migration in 2025, shedding light on the movement of wealth
  • The UK is the biggest mover, losing 16,500 millionaires worth an estimated combined total of $91.8 billion

Countries that offer low taxes, a high quality of life, and political stability can attract high net worth individuals (HWNIs) and reap the benefits of increased investment and job creation.

To see which countries are gaining or losing the most HWNIs in 2025, we’ve visualized millionaire migration data for almost 60 major economies.

Data & Discussion

The data for this visualization comes from Henley & Partners. It ranks countries by projected net inflows and outflows of millionaires in 2025, giving a glimpse into where global wealth is concentrating or dispersing.

RankCountryMillionaire Migration
1🇦🇪 UAE9,800
2🇺🇸 U.S.7,500
3🇮🇹 Italy3,600
4🇨🇭 Switzerland3,000
5🇸🇦 Saudi Arabia2,400
6🇸🇬 Singapore1,600
7🇵🇹 Portugal1,400
8🇬🇷 Greece1,200
9🇨🇦 Canada1,000
10🇦🇺 Australia1,000
11🇭🇰 Hong Kong800
12🇯🇵 Japan600
13🇲🇹 Malta500
14🇹🇭 Thailand450
15🇨🇷 Costa Rica350
16🇵🇦 Panama300
17🇨🇾 Cyprus250
18🇲🇨 Monaco200
19🇰🇾 Cayman Islands200
20🇳🇿 New Zealand150
21🇲🇪 Montenegro150
22🇳🇱 Netherlands100
23🇱🇻 Latvia100
24🇲🇦 Morocco100
25🇲🇺 Mauritius100
26🇦🇹 Austria50
27🇭🇷 Croatia50
28🇧🇲 Bermuda50
29🇧🇪 Belgium50
30🇭🇺 Hungary50
31🇸🇨 Seychelles50
32🇸🇪 Sweden-50
33🇵🇭 Philippines-50
34🇦🇴 Angola-50
35🇹🇷 Türkiye-100
36🇹🇼 Taiwan-100
37🇮🇪 Ireland-100
38🇦🇷 Argentina-100
39🇵🇰 Pakistan-100
40🇪🇬 Egypt-100
41🇳🇴 Norway-150
42🇲🇽 Mexico-150
43🇨🇴 Colombia-150
44🇱🇧 Lebanon-200
45🇮🇷 Iran-200
46🇳🇬 Nigeria-200
47🇮🇩 Indonesia-250
48🇿🇦 South Africa-250
49🇻🇳 Vietnam-300
50🇮🇱 Israel-350
51🇩🇪 Germany-400
52🇪🇸 Spain-500
53🇫🇷 France-800
54🇧🇷 Brazil-1,200
55🇷🇺 Russia-1,500
56🇰🇷 S. Korea-2,400
57🇮🇳 India-3,500
58🇨🇳 China-7,800
59🇬🇧 UK-16,500

Top Gainers in 2025

The United Arab Emirates leads with a net gain of 9,800 millionaires, cementing its appeal through low taxes, luxury lifestyle offerings, and economic openness.

The U.S. ranks second, adding 7,500 millionaires, likely driven by its diversified economy and investment opportunities. Southern European countries like Italy and Portugal also stand out, attracting HNWIs with “golden visa” programs.

For example, Portugal’s golden visa program offers investors a streamlined path to European residency and eventual citizenship through qualified investments in funds, research, or cultural projects.

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.

For the first time in a decade of tracking, a European country leads the world in millionaire outflows.
Juerg Steffen, CEO at Henley & Partners

Reasons for the UK’s exodus of HWNIs include hikes on capital gains and inheritance taxes, as well as declining economic confidence.

France, Brazil, and India also rank high on the list of millionaire outflows.

Learn More on the Voronoi App

If you enjoyed today’s post, check out The World’s Wealthiest Cities on Voronoi, the new app from Visual Capitalist.

Source Link


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