/popdiaries/media/media_files/2025/04/10/0FV8aVJ2RNMpj41Sutt1.jpg)
Follow Us
London:
Millionaires are leaving London in droves—not only in handfuls or dozens, but by the thousands. In 2024, more than 11k millionaires departed London in search of better opportunities. The majority of them have chosen to relocate to either Asia or the USA. While this trend has been ongoing for many years, what is alarming is the rapid increase in both the frequency and scale of these departures.
Annual data from wealth advisory firms tells us that some of the key factors driving this exodus include skyrocketing taxes, the inability to completely recover from the 2008 financial crisis, & Brexit—the United Kingdom's choice to separate from the rest of Europe.
'LONDON IS FALLING'
Once known for having the biggest number of dollar millionaires globally, London has experienced a major decline since 2014. Over the past 10 years, the city falling out of the 'top 5 wealthiest' cities.
According to the World's Wealthiest Cities Report published by advisory firm Henley and Partners, more than 11,300 millionaires have moved from London between January & December last year. This finding is given by data from the intelligence firm New World Wealth.