In this article, we take a look at 5 countries millionaires are moving to. If you would like to check our detailed discussion, you can go to 12 Countries Millionaires Are Moving To.
5. Australia
Millionaire inflow (2024): 2,500
Australia is one of the fastest-growing economies in the world and ranks fifth among the countries millionaires are moving to. In the last three years, around 3,733 millionaires on average have moved to Australia. There were a total of 1.93 million millionaires in Australia in 2023, increasing at a compound annual growth rate of 1.77% between 2020 and 2023.
4. Canada
Millionaire inflow (2024): 3,200
Canada is another top location for immigrants and one of the leading countries millionaires are moving to. In the past three years, an average of nearly 2,000 millionaires have moved to Canada. In 2023, around 1.99 million millionaires were living in Canada. Between 2020 and 2023, millionaires in Canada have increased at a compound annual growth rate of 4.30%.
3. Singapore
Millionaire inflow (2024): 3,500
Singapore has one of the highest millionaire per capita ratios in the world. In 2023, over 333,000 millionaires were living in Singapore. Almost 3,500 millionaires are anticipated to move to the country in 2024. Singapore ranks third among the countries millionaires are moving to.
2. United States
Millionaire inflow (2024): 3,800
The United States is the land of opportunities and one of the largest economies in the world. The United States has the highest millionaire population in the world and around 22 million millionaires were residing in the US in 2023. In 2024, around 3,800 millionaires are expected to move to the US compared to 1,500 and 2,100 in 2022 and 2023, respectively. The US ranks second among the 12 countries millionaires are moving to.
1. United Arab Emirates
Millionaire inflow (2024): 6,700
The United Arab Emirates has been a growing millionaire hub for a few years now. Around 4000 and 4,500 millionaires moved to the United Arab Emirates in 2022 and 2023. In 2024, almost 6,700 millionaires are expected to move to the country. Dubai remains the major destination for millionaires in the UAE, considering economic opportunities and being close to the European lifestyle. In 2023, there were around 202,201 millionaires in the United Arab Emirates, having a compound annual growth rate of 4.65% between 2020 and 2023. The United Arab Emirates ranks first among the countries millionaires are moving to.
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