The UK Is Witnessing A ‘Wealth Flight’ Of HNWs

The UK is expected to lose more high-net-worth individuals than any other country in the world this year, according to the newly released Henley Private Wealth Migration Report 2025.

A record net outflow of 16,500 millionaires is forecast — more than double China’s anticipated loss of 7,800, and the highest single-year outflow recorded by Henley & Partners and New World Wealth since they began tracking HNW migration a decade ago.

This signals a major reversal of fortune for the UK, which was historically a hub for the super-rich. Analysts suggest the “wealth flight” is being driven by a combination of post-Brexit uncertainty, political instability, and tax reforms introduced in the 2024 Budget — including increased capital gains and inheritance taxes, and new rules affecting non-doms. These changes have prompted what some commentators are calling a “Wexit” (wealth exit) as affluent individuals relocate to more favourable tax and lifestyle destinations, such as the UAE, Monaco, Switzerland, Malta, and Southern Europe.

Surprise? Not in the slightest. This isn’t just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. Share your thoughts with Abode2 below.