London is experiencing a notable decline in its millionaire population, with a 12% drop since 2014, losing 30,000 millionaires over the past decade—second only to Moscow. Factors such as tax hikes, the end of the non-dom regime, and economic uncertainty have driven 11,300 millionaires, 18 centimillionaires, and two billionaires out of the city in the past year alone. Despite still boasting 215,700 dollar millionaires—the highest globally—London’s status as a wealth hub is under threat as the super-rich relocate to tax-friendly destinations like Portugal, Spain, Greece, and the UAE.
Tag: Henley & Partners
The allure of Greece’s sun-soaked landscapes and rich cultural heritage is drawing record numbers of American buyers to its vacation home market as interest from U.S. buyers surges dramatically following the recent U.S. elections.
A record 128,000 individuals with a net worth over €1 million are expected to migrate this year, driven by changes in tax policies in the UK, France, and Italy. Favored destinations include Dubai, Switzerland, Singapore, Greece, Spain, and Ireland, although these countries face pressure to raise taxes on wealthy newcomers due to local economic impacts.
Greece is projected to rank third among European countries in attracting mobile millionaires in 2024, following Italy and Switzerland. Despite Italy’s recent tax increase, the country remains the top destination for individuals with significant liquid wealth, while Switzerland considers a new inheritance tax to support its green initiatives.
Greece is becoming a top destination for wealthy individuals, attracting around 1,100 millionaire foreigners last year and expecting 1,200 more this year, according to the Henley Private Wealth Report. Ranked eighth globally for millionaire migration, Greece has seen a 14% rise in millionaires over the past decade, with Attica, Mykonos, and Crete being the most popular areas.
Athens is among the rising centers of wealth, according to this year’s edition of the…