Data suggests exits after invasion of Ukraine, and UAE to overtake US and UK as top destination for world’s wealthy
More than 15,000 millionaires are expected to flee Russia this year, as wealthy citizens turn their back on Vladmir Putin’s regime after the invasion ofAbout 15% of Russians with more than $1m in ready assets are expected to have emigrated to other countries by the end of 2022, according to projects based on migration data by
“Russia [is] haemorrhaging millionaires,” said Andrew Amoils, the head of research at New World Wealth, which compiled. “Affluent individuals have been emigrating from Russia in steadily rising numbers every year over the past decade, an early warning sign of the current problems the country is facing. Historically, major country collapses have usually been preceded by an acceleration in emigration of wealthy people, who are often the first to leave as they have the means to do so.
is expected to overtake them as the No 1 destination for millionaire emigrants. “UK has lost its wealth hub crown, and the US is fading fast as a magnet for the world’s wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022,” Henley said in its report, which is based on “systematically tracking international private wealth migration trends”.
Large numbers of millionaires are also expected to move to “the three Ms”: Malta, Mauritius and Monaco.
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