5 Countries Gaining Millionaires

Millionaires are on the move. According to a report by Henley & Partners, 88,000 millionaires are expected to relocate to new countries by the end of 2022. This is a 252% increase compared to 2021, but still 22,000 fewer than in 2019. Here’s a look at the top five countries gaining millionaires this year.

- HAGAR OMRAN

1. U.A.E.

Expected Net HNWI inflows 2022: 4,000 Resident HNWIs 2022: 92,600

The U.A.E. is expected to attract 4,000 additional HNWIs—an increase of 208% compared to 2019’s 1,300. Total private wealth in the U.A.E. is estimated at $966 billion. This is partly thanks to wealthy Russians escaping from sanctions and flocking to the U.A.E., encouraged by the lifestyle, flexible visa program, and political neutrality. The U.A.E.’s richest person is a Russian-born expat— Telegram’s founder and owner, Pavel Durov with a net worth of $15.1 billion as of August 15. The International Monetary Fund expects the U.A.E.’s GDP per capita in current prices to rise 17.4% this year to $50,350, while real GDP is projected to grow by 4.2% in 2022 from 2.3% in 2021.

2. Australia

Expected Net HNWI inflows 2022: 3,500 Resident HNWIs 2022: 395,400