Reports anticipate UAE to become highest worldwide attractor of external wealth

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(MENAFN) In line with a report by a London-based investment migration consultancy, the United Arab Emirates (UAE) is likely to come in place of the UK as the highest worldwide attractor of external wealth as Russian and Ukrainian capital pursue safe haven from conflict.

The report by Henley & Partners, which record private wealth and investment migration trends internationally stated that “A tsunami of private capital has left Russia and the Ukraine, the UK has lost its wealth hub crown, and the US is fading fast as a magnet for the world’s wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022.”

The report, also mentioned that Ukraine, too, is anticipated to deal its biggest net losses in history — 2,800 millionaires “As expected, Russia has suffered the biggest emigration of millionaires over the past six months, with forecast net outflows of 15,000 by the end of 2022.”

Henley & Partners’ breakdown concentrates mainly on individuals with fortune of USD1 million or above who stay in their new nation for at least 6 months.

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