Business
Global wealth migration surges: Over 140,000 millionaires set to relocate in 2025
One Eastern European nation has quietly become the world’s fastest-growing millionaire hub: Montenegro.
LONDON, Aug 10: A global migration of the ultra-wealthy is reshaping the economic landscape, as over 142,000 millionaires are projected to relocate in 2025, marking a historic shift in high-net-worth movement patterns.
Once-iconic centers of affluence like London and Paris are witnessing an exodus of millionaires, driven by escalating geopolitical tensions, trade wars, and macroeconomic instability. As the wealthy seek safer, more financially advantageous destinations, one Eastern European nation has quietly become the world’s fastest-growing millionaire hub: Montenegro.
According to the Henley Private Wealth Migration Report 2025, Montenegro has recorded a 124% increase in its millionaire population over the past decade. Although it currently hosts just 2,800 millionaires, the country has rapidly gained popularity thanks to a combination of fiscal incentives, investment opportunities, and an enviable Mediterranean lifestyle.
Situated along the Adriatic Sea and framed by the Dinaric Alps, Montenegro’s appeal lies not only in its natural beauty but in its flat income tax regime, absence of inheritance and gift taxes, and a now-suspended “golden passport” program that once allowed investors to gain citizenship.
“Montenegro’s low-tax regime, combined with luxury real estate options and a high quality of life, has made it an ideal destination for lifestyle-driven investors,” said Dominic Volek, Head of Private Clients at Henley & Partners.
The year 2025 is on track to witness a record-breaking wave of millionaire relocations. An estimated 165,000 millionaires are expected to move abroad by next year. Experts cite ongoing global instability as a major motivator.
“As major powers become more entangled geopolitically, wealthy individuals are factoring political risk into their decisions on where to live and invest,” Volek added.
While Montenegro is gaining traction, the United Arab Emirates (UAE) continues to lead in net millionaire inflows, expecting to attract 9,800 high-net-worth individuals this year alone—more than any other country. The UAE’s political stability, business-friendly policies, and Golden Visa program are seen as key drivers of this trend.
In contrast, many Western European nations are experiencing an outflow of wealth. The United Kingdom tops the list of millionaire departures for the first time in a decade, with 16,500 individuals expected to leave the country in 2025. That figure translates to a 9% decline in the UK’s millionaire population over the past ten years.
Analysts attribute the British exodus to factors such as Brexit-related uncertainty, changes to non-domicile tax laws, and a generally less welcoming climate for foreign capital.
“Despite this outbound wave, the UK still appeals to some high-net-worth individuals—particularly disillusioned Americans under the current Trump administration,” said Juerg Steffen, CEO of Henley & Partners. “However, without clearer entry pathways, the country struggles to offset the outflow.”
France, Spain, and Germany are also witnessing increased wealth migration. According to Volek, inquiries into alternative citizenship and residence options from German millionaires jumped 114% between 2023 and 2024, signaling a broader crisis of confidence among Europe’s financial elite.
This shift in millionaire demographics has deeper implications. As the wealthy relocate, regional investment trends, real estate markets, and even government tax revenues could be significantly affected.
Experts warn that the long-term consequences of such migration could impact financial stability, innovation ecosystems, and economic development strategies, particularly in countries losing their wealthiest citizens.
As this unprecedented migration unfolds, Montenegro’s rise illustrates a changing global order—one where emerging markets and smaller states increasingly compete for the attention of the world’s wealthiest, offering not just safety and profits, but a desirable lifestyle in uncertain times.
Business
Gulf Bank Concludes Successful Participation in University Admission Fairs at Kuwait University and Abdullah Al-Salem University
KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti youth, Gulf Bank has successfully concluded its distinguished participation in the university admission fairs at Kuwait University and Abdullah Al-Salem University. The Bank actively engaged with new students, introducing them to its tailored banking solutions designed specifically for young people.
Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth attracted a high turnout from students and parents, who showed great interest in the banking services designed for university students.
Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence featured direct interaction with visitors, providing comprehensive information on student accounts and other tailored services.
These participations are part of Gulf Bank’s continuous efforts to strengthen engagement with youth and support them in the early stages of their academic journey. Alongside sharing information on academic majors and admission processes, the Bank also offered financial tips to help students manage their resources effectively from the start of their university life.
At both events, Gulf Bank showcased its red account, one of its leading banking solutions designed for customers aged 15 to 25. The account offers a wide range of benefits, including prepaid cards, exclusive discounts, rewards on purchases, and access to unique events and experiences that enrich both personal and professional growth.
Beyond its features, the red account serves as a platform to promote financial literacy among youth, equipping them with the knowledge and skills to make informed financial decisions early in life – positively shaping their future and fostering a generation that is financially aware and capable of managing resources effectively.
Gulf Bank’s team expressed pride in supporting students throughout their high school and university years, offering innovative banking services designed to keep pace with their fast-paced lifestyles.
Gulf Bank concluded its participation by thanking the administrations of both universities for organizing the fairs, which serve as valuable platforms to connect with youth. The Bank reaffirmed its commitment to continuing its support for educational and youth initiatives that contribute to Kuwait’s development and enhance the quality of life for its students and community.
KUWAIT / LODNON, Aug 12: Menzies Aviation, the leading service partner to the world’s airports and airlines, has announced it will deliver ground, air cargo and fuelling services at Mosul International Airport (OSM) in Iraq through MASIL, its joint venture with Iraqi Airways, Air BP and Al-Burhan Group.
One fully operational, MASIL will provide a full suite of aviation services at OSM, under a new 10-year license, further strengthening its footprint in the region. This builds on MASIL’s operations at Baghdad International Airport (BGW).
MASIL provided ground services for the presidential flight that signified the official reopening of OSM. The flight, attended by Iraq’s Prime Minister Mohammed Shia’ Al Sudani, represented a landmark moment in the airport’s history, which has been non-operational since 2014.
The milestone underscores the joint venture’s capabilities and readiness to support future air traffic at the revitalised airport.
Mosul International Airport has undergone extensive reconstruction and is now equipped with a main terminal, VIP lounge, and advanced radar surveillance system. The airport is expected to be fully operational within the coming months, supporting both domestic and international flights and handling an estimated 630,000 passengers annually.
The expansion marks a significant milestone in the continued growth of the MASIL joint venture across Iraq and demonstrates Menzies’ commitment to supporting the country’s aviation infrastructure and long-term development.
Charles Wyley, Executive Vice President Middle East, Africa and Asia, Menzies Aviation, said: “We’re proud to expand our presence in Iraq with new operations at Mosul International Airport through our MASIL joint venture. This is a major step in our journey to support the redevelopment of Iraq’s aviation sector and bring world-class standards to the country’s airports. Handling the presidential flight was a privilege and a clear signal of MASIL’s professionalism and reliability as a trusted service provider.”
Menzies Aviation and Iraqi Airways formed MASIL in 2021 to provide ground handling, cargo, and fuelling services. The joint venture includes operations at key airports including Baghdad and will soon include Mosul, as it continues to support the modernisation of Iraq’s aviation sector.
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