Britain is poised to lose a record number of wealthy residents this year as small boat arrivals soar past previous levels on Labour's watch.
Recent data reveals that 16,500 millionaires are on course to depart the UK in 2025 as the economic picture darkens (see chart below).
This mass departure coincides with another troubling milestone - more than 50,000 migrants have illegally crossed the English Channel in small boats since Sir Keir Starmer assumed office last year.
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Data reveals that 16,500 millionaires are projected to depart the UK during 2025 in an unwelcome global record for wealth migration
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Millionaire mass exodus
According to the New World Wealth data, accessed via Henley & Partners, Britain is at the bottom of international rankings for millionaire retention.
The UK's projected loss of 16,500 wealthy individuals dwarfs the outflows from other major economies.
For example, Russia anticipates losing 1,500 millionaires this year, while China expects approximately 8,250 departures.
Britain's exodus nearly doubles that of China despite the latter's significantly larger population.
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Where are they heading?
The United Arab Emirates emerges as the primary beneficiary of the wealth redistribution.
The Gulf nation expects to welcome 9,800 millionaires in 2025, bringing an estimated $63billion (£46billion) in investable assets.
Worldwide, around 142,000 high-net-worth individuals will relocate internationally this year, a 16 per cent increase on 2024.
Best to worst
Net Millionaire Migration (in thousands):
Net Inflow
- United Arab Emirates: +9.8K
- United States: +7.5K
- Italy: +3.6K
- Switzerland: +3K
- Saudi Arabia: +2.4K
- Singapore: +1.6K
- Portugal: +1.4K
- Greece: +1.2K
- Canada: +1K
- Australia: +1K
Net Outflow
11. Israel: -350
12. Germany: -400
13. Spain: -500
14. France: -800
15. Brazil: -1.2K
16. Russia: -1.5K
17. South Korea: -2.4K
18. India: -3.5K
19. China: -7.8K
20. United Kingdom: -16.5K
GB News revealed that 106 migrants crossed the Channel in largest single boat load ever to arrive in UK waters
|GB News
In response to the wealth exodus, Dr Juerg Steffen, CEO at Henley & Partners said: "2025 marks a pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows.
"This isn't just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere.
"The long-term implications for Europe and the UK's economic competitiveness and investment appeal are significant."
It comes as GB News reveals that 106 individuals arrived on a single vessel yesterday - setting a record for the most crowded boat to reach UK waters.
Following the incident, a senior maritime security source told GB News: "This is highly alarming.
"It looks like the smuggling gangs have specified larger boats, which we know are designed and built in back street factories in China.
"Bigger boats mean bigger numbers of arrivals, at a time when we're already seeing record numbers crossing from France. If we are witnessing the advent of a new, larger migrant boat, this is the worst possible news for those attempting to smash the gangs."
The mega-dinghy arrivals came exactly a week after a partial agreement with France took effect.
Starmer's migration policy, dubbed "one in, out", has faced mounting criticism as Channel crossings have continued to surge amid warm weather and calm waters.
GB News' Home Editor described the policy as "business as usual".