Israel has dropped out of the top ten countries to which millionaires immigrate for the first time in several decades, according to the 2024 wealth migration report released Tuesday morning by international investment migration advisory firm Henley & Partners.
This represents a “major turnabout,” according to the report. “This seismic shift underscores how swiftly conflict can unravel a country’s appeal to the world’s wealthy and globally mobile,” said Senior Client Advisor at Henley & Partners Israel, Dan Marconi.
War threatens Israel in multiple arenas
“The ongoing war has not only shattered Israel’s image as a safe haven but also threatened to overshadow its economic achievement,” he added.
The report features net inflows and outflows of high-net-worth individuals with liquid investable wealth of one million US dollars or more as projected by New World Wealth, a global wealth intelligence firm.
The semi-annual report also found that the UK and China will lose many millionaires in 2024 and that the UAE will likely be the “world’s leading wealth magnet” for the third year running.