140,000 Millionaires Relocate Globally as Tax, War and Quality of Life Reshape Safe Havens

3 articles · Updated · en.highnorthnews.com · Jun 12

140,000 people with at least $1 million in liquid assets moved to new home countries over the past year, according to New World Wealth figures cited by The Economist.
Tax remains the main driver, but geopolitics and quality of life are gaining weight as wealthy migrants reassess where to live and park capital.
Dubai, long a favored low-tax destination, has lost appeal as the U.S.-Iran war and Iranian strikes on American allies raise security concerns.
Portugal and Italy are emerging as European alternatives, while Australia, New Zealand and Singapore rank among the leading destinations globally.
The shift broadens a debate sharpened in Norway by wealth-tax exiles, underscoring how the richest can cross borders far more easily than war refugees.

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With millionaires migrating faster than ever, are countries losing the global competition for tax revenue and talent?

As old safe havens falter, which nation is best positioned to become the next global capital for the ultra-rich?

As the rich flee conflict with golden visas, what future awaits refugees left at those same borders?