RIYADH, June 27: Saudi Arabia is set to attract 2,400 high-net-worth individuals (HNWIs) in 2025, an eightfold jump from 2024, according to the Henley Private Wealth Migration Report 2025. This makes the Kingdom the fastest-rising destination globally for millionaire migration, driven by Vision 2030, major economic reforms, and investment-friendly policies. The UAE remains the global leader, with an expected 9,800 millionaires, followed by the US with 7,500.

Saudi Arabia’s appeal lies in its mega projects, such as NEOM, tax incentives, residency programs, and a focus on tourism, fintech, and infrastructure. Cities like Riyadh and Jeddah are key hubs for inbound capital. The report highlights a broader shift in global wealth flows. The UK is expected to lose 16,500 millionaires—the highest net outflow—amid rising taxes and tighter regulations. Other countries losing HNWIs include China, France, Spain, and Germany.

Meanwhile, Southern Europe—notably Italy, Switzerland, Portugal, and Greece—is emerging as a new wealth haven. Asian hubs like Thailand, Japan, and Hong Kong are also gaining, while South Korea, Vietnam, and Pakistan face net outflows. Henley & Partners and Capgemini both underscore the Middle East’s growing appeal to global investors, citing its economic stability, security, and strategic location. Saudi Arabia, in particular, is becoming a key player in the global wealth migration landscape.