The Global Race for Wealth in 2026: The New Millionaire Hotspots
The Millionaires on the Move: Insights from the 2026 Wealth Migration Report
In a world increasingly focused on wealth mobility, the 2026 Henley Private Wealth Migration Report reveals significant shifts in the destinations favored by wealthy individuals and families. This year, Singapore, Italy, Switzerland, Greece, Hong Kong, and New Zealand have risen to prominence, presenting themselves as the most attractive locales for high-net-worth individuals (HNWIs).
As economic and political climates fluctuate, countries such as the UK, Germany, France, Norway, and South Korea are showing signs of distress in their competitive edge, prompting the affluent to reconsider their options. Key challenges such as tax reforms, budget uncertainties, and policy changes are some of the driving factors behind this exodus.
Notably, two crucial elements are redefining the global wealth distribution landscape in 2026. The United States continues to spearhead the private wealth management market, generating unprecedented demand for residency options and citizenship. As wealthy Americans diversify their portfolios on an international scale, seeking various residency options, their desire to establish financial stability is evident.
Simultaneously, the Gulf region grapples with ongoing conflicts, putting new pressures on its emerging wealth centers—particularly the UAE, which has been the leading destination for millionaire migration in the past two years. As affluent individuals worldwide reevaluate their strategies, they enter a new phase of contingency planning to secure their wealth.
The report highlights a paradigm shift away from traditional relocation planning. The world's wealthiest individuals are increasingly adopting what Henley terms 'sovereign portfolios.' These portfolios comprise residency rights, nationalities, investments, and business interests across multiple jurisdictions, rather than being tied to a single country.
Just within the first five months of 2026, Henley Partners recorded inquiries from 86 different nationalities under 47 investment immigration programs. Notably, over 28% of these applicants reside outside their home countries, emphasizing a growing trend among affluent families to organize their lives across several jurisdictions.
As Juerg Steffen, CEO of Henley Partners, explains, “For much of the last century, governments viewed their wealthiest residents as stable capital—anchored in businesses, familial ties, and limited international mobility. This perspective is increasingly outdated.”
To adapt to this new reality, jurisdictions are competing not just to attract capital but also to charm entrepreneurs, investors, executives, and skilled workers who drive economic growth and innovation.
Understanding Wealth Mobility: The 2026 Global Wealth Mobility Framework
The 2026 edition marks a significant evolution of the Henley Private Wealth Migration Report. Previous editions primarily focused on estimates of millionaire migration and wealth flows, while this year introduces the Global Wealth Mobility Framework—a new analytical model designed to evaluate the structural competitiveness of jurisdictions.
This framework assesses nations based on factors such as taxation, investment migration prospects, quality of life, rule of law, family integration, geopolitical stability, and capital mobility. It ultimately establishes a competitiveness index for each market regarding wealth mobility. The report also includes policy insights that examine how these factors redefine private wealth migration flows across the globe.
“Today’s most mobile fortunes make jurisdiction decisions similarly to how sovereign funds manage their portfolios: diversifying across different climates, governance systems, and geopolitical regions to safeguard against unforeseen shocks,” explains Parag Khanna, founder and CEO of AlphaGeo.
Global Leaders in Wealth Mobility Amidst Pressured Markets
The report identifies jurisdictions poised to attract, retain, and support mobile capital in 2026. Singapore leads with a wealth mobility competitiveness score of 79.5, followed by New Zealand at 75.8. Other high-performing nations include the Cayman Islands (74.3), Cyprus (73.5), Netherlands (72.8), Portugal (72.5), Italy (72.3), and Bermuda (72.0). Also highlighted are Uruguay (71.8), Latvia (71.7), Panama (71.5), Hong Kong (71.2), Switzerland (70.8), Greece (70.5), Costa Rica (70.2), and Monaco (70.0), depicting a robust competitive landscape for wealth mobility.
Countries under pressure include Germany (69.7), Norway (69.0), the UK (68.3), South Korea (66.2), and France (65.7). Douglas McWilliams, founder of the Centre for Economics and Business Research in the UK, indicates that the migration of wealthy individuals is a warning sign for economic policy: “If the rich are leaving a country in large numbers, it is reasonable to conclude that the country’s economic policy is failing.”
The report also sheds light on nations like Brazil (64.2), China (60.5), Russia (58.7), India (56.5), Iran (45.8), Lebanon (45.5), and Nigeria (43.0), which face persistent structural challenges regarding wealth mobility.
The Paradox of Wealth Mobility in the United States and UAE
The United States, with a wealth mobility competitiveness index of only 62.3, occupies a unique position in this framework. While it continues to be the powerhouse of wealth creation and entrepreneurship, it also serves as the largest source market for Henley Partners. The number of inquiries from American nationals doubled from the previous year and remained robust in 2026. Interestingly, only 7% of applications from U.S. citizens originated from those living abroad, indicating the strong demand among domestic residents seeking international options.
In contrast, despite ongoing regional tensions, the UAE boasts a remarkable wealth mobility competitiveness score of 85.3—one of the highest in the ranking. This score underscores its advantages in fiscal competitiveness, investor access, family integration, security, connectivity, and long-term residency options. However, Henley Partners has noted a 41% increase in inquiries from residents in the UAE between Q4 2025 and Q1 2026, with alternative residence or citizenship requests rising by 29% during the same period.
As we navigate 2026 and beyond, the shifting landscapes of wealth mobility continue to redefine opportunities and challenges for affluent individuals across the globe. Understanding and adapting to these changes will be essential for nations competing in the landscape of private wealth management.
In a world increasingly focused on wealth mobility, the 2026 Henley Private Wealth Migration Report reveals significant shifts in the destinations favored by wealthy individuals and families. This year, Singapore, Italy, Switzerland, Greece, Hong Kong, and New Zealand have risen to prominence, presenting themselves as the most attractive locales for high-net-worth individuals (HNWIs).
As economic and political climates fluctuate, countries such as the UK, Germany, France, Norway, and South Korea are showing signs of distress in their competitive edge, prompting the affluent to reconsider their options. Key challenges such as tax reforms, budget uncertainties, and policy changes are some of the driving factors behind this exodus.
Notably, two crucial elements are redefining the global wealth distribution landscape in 2026. The United States continues to spearhead the private wealth management market, generating unprecedented demand for residency options and citizenship. As wealthy Americans diversify their portfolios on an international scale, seeking various residency options, their desire to establish financial stability is evident.
Simultaneously, the Gulf region grapples with ongoing conflicts, putting new pressures on its emerging wealth centers—particularly the UAE, which has been the leading destination for millionaire migration in the past two years. As affluent individuals worldwide reevaluate their strategies, they enter a new phase of contingency planning to secure their wealth.
The report highlights a paradigm shift away from traditional relocation planning. The world's wealthiest individuals are increasingly adopting what Henley terms 'sovereign portfolios.' These portfolios comprise residency rights, nationalities, investments, and business interests across multiple jurisdictions, rather than being tied to a single country.
Just within the first five months of 2026, Henley Partners recorded inquiries from 86 different nationalities under 47 investment immigration programs. Notably, over 28% of these applicants reside outside their home countries, emphasizing a growing trend among affluent families to organize their lives across several jurisdictions.
As Juerg Steffen, CEO of Henley Partners, explains, “For much of the last century, governments viewed their wealthiest residents as stable capital—anchored in businesses, familial ties, and limited international mobility. This perspective is increasingly outdated.”
To adapt to this new reality, jurisdictions are competing not just to attract capital but also to charm entrepreneurs, investors, executives, and skilled workers who drive economic growth and innovation.
Understanding Wealth Mobility: The 2026 Global Wealth Mobility Framework
The 2026 edition marks a significant evolution of the Henley Private Wealth Migration Report. Previous editions primarily focused on estimates of millionaire migration and wealth flows, while this year introduces the Global Wealth Mobility Framework—a new analytical model designed to evaluate the structural competitiveness of jurisdictions.
This framework assesses nations based on factors such as taxation, investment migration prospects, quality of life, rule of law, family integration, geopolitical stability, and capital mobility. It ultimately establishes a competitiveness index for each market regarding wealth mobility. The report also includes policy insights that examine how these factors redefine private wealth migration flows across the globe.
“Today’s most mobile fortunes make jurisdiction decisions similarly to how sovereign funds manage their portfolios: diversifying across different climates, governance systems, and geopolitical regions to safeguard against unforeseen shocks,” explains Parag Khanna, founder and CEO of AlphaGeo.
Global Leaders in Wealth Mobility Amidst Pressured Markets
The report identifies jurisdictions poised to attract, retain, and support mobile capital in 2026. Singapore leads with a wealth mobility competitiveness score of 79.5, followed by New Zealand at 75.8. Other high-performing nations include the Cayman Islands (74.3), Cyprus (73.5), Netherlands (72.8), Portugal (72.5), Italy (72.3), and Bermuda (72.0). Also highlighted are Uruguay (71.8), Latvia (71.7), Panama (71.5), Hong Kong (71.2), Switzerland (70.8), Greece (70.5), Costa Rica (70.2), and Monaco (70.0), depicting a robust competitive landscape for wealth mobility.
Countries under pressure include Germany (69.7), Norway (69.0), the UK (68.3), South Korea (66.2), and France (65.7). Douglas McWilliams, founder of the Centre for Economics and Business Research in the UK, indicates that the migration of wealthy individuals is a warning sign for economic policy: “If the rich are leaving a country in large numbers, it is reasonable to conclude that the country’s economic policy is failing.”
The report also sheds light on nations like Brazil (64.2), China (60.5), Russia (58.7), India (56.5), Iran (45.8), Lebanon (45.5), and Nigeria (43.0), which face persistent structural challenges regarding wealth mobility.
The Paradox of Wealth Mobility in the United States and UAE
The United States, with a wealth mobility competitiveness index of only 62.3, occupies a unique position in this framework. While it continues to be the powerhouse of wealth creation and entrepreneurship, it also serves as the largest source market for Henley Partners. The number of inquiries from American nationals doubled from the previous year and remained robust in 2026. Interestingly, only 7% of applications from U.S. citizens originated from those living abroad, indicating the strong demand among domestic residents seeking international options.
In contrast, despite ongoing regional tensions, the UAE boasts a remarkable wealth mobility competitiveness score of 85.3—one of the highest in the ranking. This score underscores its advantages in fiscal competitiveness, investor access, family integration, security, connectivity, and long-term residency options. However, Henley Partners has noted a 41% increase in inquiries from residents in the UAE between Q4 2025 and Q1 2026, with alternative residence or citizenship requests rising by 29% during the same period.
As we navigate 2026 and beyond, the shifting landscapes of wealth mobility continue to redefine opportunities and challenges for affluent individuals across the globe. Understanding and adapting to these changes will be essential for nations competing in the landscape of private wealth management.
Topics Financial Services & Investing）
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