The Henley Private Wealth Migration report indicates that the UK will experience a significant outflow of 16,500 millionaires in 2025, amidst a broader global migration trend of 142,000 millionaires. This trend, characterized as a 'historic wave of wealth migration,' is largely attributed to government tax increases and policies targeting wealthy non-domiciled individuals. Notably, the UK’s loss of wealthy individuals this year is expected to be tenfold that of Russia and double that of China, marking a new era where the UK is losing more millionaires than it attracts, escalating since the Brexit decision in 2016.
According to the report, the UK will lose ten times as many wealthy individuals than Russia and twice as many as China this year.
Dr. Juerg Steffen warned that the UK is now a 'cautionary tale in this new era of wealth migration,' indicating a significant trend affecting affluent residents.
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