These countries transfer most of the wealth from E24.

These countries transfer most of the wealth from E24.

Among the most popular destinations are the UAE and Switzerland. Norway is not in the top ten.

A number of Norwegians have made their way to Switzerland. The photo is of Lugano where Kjell Inge Rökke lives, among others.
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– When the world faces a perfect storm of geopolitical tensions, economic uncertainty and social unrest, millionaires are voting in record numbers, says head of private sector clients Dominic Volek at Henleys Group.

The company was created, which makes its living by providing rich advice on visa and relocation rules a report With an overview of estimates of where the world's richest people will move to and from in 2024 (See the top ten list in this issue.).

The second-placed country is Great Britain. The country is expected to lose 9,500 people with investable wealth of $1 million or more. More than double the number leaving the country in 2023.

The estimates come ahead of Britain's general election on July 4. The opposition Labour Party says it wants more taxes on the rich and is leading in the polls. Bloomberg. The trend of relocations has continued since the country left the European Union in 2017. According to the report, 16,500 people found a new country during this period.

China is only expected to lose more high-net-worth individuals, at 15,200 people. The country's population is already 1.4 billion people, compared to 66.97 million in Great Britain.

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The report indicates net movements and departures, and reflects where the number of high-net-worth individuals is growing and shrinking. Henley's research partner New World Wealth estimates the numbers based on transfer data, statistics from players who help transfer and invest, and interviews with people in the asset management industry.

Norway loses a lot

In Norway, the debate has been heating up after several wealthy individuals chose to pack their bags and move to Switzerland. Rune Siversen, co-founder of Oslo-listed IT company Crayon, recently told E24 that Switzerland is a great country to live in, but he prefers Norway.

-I will tax Norway if the framework conditions are livable, but you are forced to move out. “I think this is a loss for Norway and for us who are moving,” he said.

E24 was unable to get a response from New World Wealth, which collects data on where Norway finishes on the list, but was told that Norway is expected to lose a net 150 high-net-worth individuals in 2024. The report estimates for 2023.

The organization wrote that popular destinations for wealthy Norwegians are countries such as Switzerland, Monaco, Malta and the United Arab Emirates.

Most of them move to the Emirates.

Over the past decade, the number of millionaires in Dubai has risen by 78 percent. The UAE tops this year’s list with a net migration of about 6,700 people.

Bloomberg wrote that the country is attractive because the income tax level is zero, the time zone is favorable, and the airport is world-class. In addition, the country has developed a sophisticated financial system that makes it easier for wealthy people to do business.

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