Riyadh: Saudi Arabia is poised to experience a remarkable surge in the influx of high-net-worth individuals, with projections indicating that the Kingdom will attract 2,400 millionaires by 2025.

This significant increase marks an eightfold rise from the 300 millionaires estimated to have relocated to Saudi Arabia in 2024, according to the Henley Private Wealth Migration Report 2025 published by Henley & Partners in collaboration with New World Wealth.

This growth positions Saudi Arabia as one of the fastest-climbing destinations for global wealth migration.

In contrast to neighboring countries, such as the UAE, which is forecasted to draw 9,800 millionaires this year, and the US with 7,500, Saudi Arabia's ascent reflects a deeper appeal due to its ambitious Vision 2030 agenda, pro-business reforms, and burgeoning investment opportunities.

The influx of high-net-worth individuals is being driven by Saudi Arabia's introduction of attractive residency programs, tax incentives, and efforts to diversify the economy beyond oil.

Mega projects such as NEOM, alongside improvements in infrastructure and a focus on tourism and fintech, are generating international interest.

The Kingdom also offers political stability, regional influence, and a strategic location, making it an increasingly desirable destination for global wealth.

The Henley & Partners report corroborates findings from a recent study by consulting firm Capgemini, which highlighted the Middle East's growing appeal to next-generation high-net-worth individuals.

Both Saudi Arabia and the UAE are capitalizing on geopolitical security and economic stability as key drivers of investment interest in the region.

While several traditional wealth hubs witness record outflows, with the UK expected to lose 16,500 millionaires, Saudi Arabia stands out as a rising center for international capital.

The trend is part of broader shifts globally, with Southern Europe emerging as a new hub for global wealth and countries like Switzerland, Italy, Portugal, and Greece projected to gain millions in incoming wealth.

In Asia, Thailand and Japan are increasingly favored by wealthy individuals due to political stability and high-end real estate opportunities.

However, South Korea is set to see a significant outflow of 2,400 millionaires, reflecting broader economic and political uncertainty.

The Americas also witness notable trends, with Central American and Caribbean jurisdictions like Costa Rica, Panama, and the Cayman Islands attracting record numbers of high-net-worth individuals.

The global wealth migration patterns are being reshuffled amid recent geopolitical developments, including tensions in the Middle East, according to Misha Glenny, rector at the Institute for Human Sciences in Vienna.

Despite a lower-than-usual forecast for inflows into these regions, countries such as Singapore and Japan are solidifying their reputations as global wealth havens.

Parag Khanna, founder and CEO of AlphaGeo, an AI-powered predictive analytics platform for investing, noted that Asia's wealth landscape is a dynamic blend of ambition and caution.

Countries like China and India are balancing domestic opportunities with the desire for diversification.