UK Faces Record Exodus of Millionaires in 2024

New research highlights political uncertainty and tax changes as key factors driving wealthy individuals to leave the country.

Henley Private Wealth Migration Report forecasts a net loss of 9,500 millionaires from the UK in 2024.
This exodus is more than double the 4,200 millionaires who left in 2023, which was already a record high.
Political instability and upcoming tax reforms by the Labour Party are major contributing factors.
The UK has seen an 8% decline in its millionaire population over the past decade, contrasting with growth in other major economies.
Globally, 128,000 millionaires are expected to relocate this year, with China and the UK experiencing the highest outflows.