Biggest millionaire migration recorded in 2024

Asian countries shine in the Investment Migration Program Index.

A milestone in global migration trends is expected to happen this year with an estimated 128,000 millionaires projected to relocate, setting a new record for millionaire migration.

Dominic Volek, Group Head of Private Clients at Henley & Partners, said that amidst this significant movement, Asian countries are emerging as key players in attracting this affluent demographic through their investment migration programs.

"Asia hosts a variety of residence by investment programs that rank highly on our index, making them highly attractive to wealthy individuals globally," Volek explained. 

Programs such as Singapore's Global Investor Program, Thailand's Long-Term Stay Visa and Elite program, Malaysia's My Second Home program, and the recently reintroduced Capital Investment Entrant Scheme in Hong Kong, stand out for offering safe environments and desirable lifestyles, thus drawing significant interest from potential migrants.

Volek highlighted the dual benefits of investment migration programs, noting that they serve as an innovative tool for governments to boost foreign direct investment and achieve fiscal autonomy. 

"We've coined the term 'sovereign equity' to describe how these programs attract capital and talent, significantly benefiting the host countries," he said.

With the world facing increasing volatility due to geopolitical events, the demand for investment migration is expected to rise. Volek anticipates a continued upward trajectory in millionaire migration as high-net-worth individuals seek the security and freedom that multiple residencies and citizenships can offer. 

"Wealthy people are increasingly seeking optionality and freedom to hedge against future uncertainties," he noted, underscoring the appeal of investment migration as a strategic move for individuals looking to safeguard their and their families' futures.

This trend reflects a broader shift in global mobility patterns, with investment migration programs playing a pivotal role in reshaping how and why people move across borders. For countries, particularly those in Asia with highly ranked programs, this movement presents a unique opportunity to attract investment and expertise, contributing to economic growth and diversification.