UK to See Biggest Millionaire Exodus Behind China: 2024 Report

Analysts say the ending of the non-dom tax regime and the deteriorating healthcare system are among factors that contributed to the accelerated exodus.

Office workers and commuters walking across a bridge in Canary Wharf in London on Oct. 6, 2021. Victoria Jones/PA

The UK is set to lose more millionaires in 2024 than any other country except China, an annual report says.

According to the Henley Private Wealth Migration Report 2024, published on Tuesday by Henley and Partners, 9,500 more millionaires are projected to move out of the UK in 2024 than those who move in, which represents an “unprecedented net loss.”