Media Articles

New York City bounced back from a mass exodus of wealthy people during the pandemic and maintains its spot as the city with the highest number of ultra-rich people, but it might have to reckon with the reality that several other burgeoning hubs are starting to attract more millionaires.

Number of HK millionaires dropped 27 per cent between 2012 and 2022, while number in Singapore grew by 40 per cent

“The citizens of Africa’s wealthiest countries have very low passport power, and poor economic mobility,” it said.

Namibia has 2,100 US$-millionaires, and its millionaire population is expected to grow by 60% or more over the next decade, up to 2032.

An increasing number of people are looking out for a Plan B in their lives. That can often entail a second passport, which is one of the reasons why the citizenship business is booming.

The Africa Wealth Report 2023 revealed that the number of millionaires in Mauritius grew by 69% – the biggest increase in Africa.

South African cities continue to dominate Africa’s top ten wealthiest cities in terms of resident dollar millionaires.

One of the main factors encouraging high-net-worth individuals to migrate to the country is the low and highly competitive tax rates that help set up new businesses.

The total investable wealth currently held on the African continent amounts to $2.4trn and its millionaire population is expected to rise by 42% over the next 10 years, according to the latest 2023 Africa Wealth Report, published on 28 March by Henley & Partners in partnership with New World Wealth.

Turkiye’s number-one facilitator of Turkish citizenship through investment.

Ireland and Portugal have axed their programmes, but others are waiting in the wings.

The latest data on millionaire migration suggests the rich have fallen out of love with the US – why has America lost its shine and where are the wealthy moving to?