UAE is at number one country in the list anticipates attracting 6,700 new billionaires in 2024.
From 2013 to 2023, many countries have seen significant increases in billionaire numbers. However, the trend indicates that no single country dominates billionaires; each serves as a center where wealth is preserved and multiplied.
The United Arab Emirates (UAE) is drawing the most new billionaires.The country anticipates attracting 6,700 new billionaires in 2024.The UAE has attracted young entrepreneurs through economic diversification, government investments, and appealing tax policies.
The United States closely follows with an expected influx of 3,800 new billionaires.
Singapore and Canada are also noteworthy, expecting 3,500 and 3,200 new billionaires, respectively. These countries’ robust economies and business opportunities make them appealing to billionaires.
Conversely, China and the United Kingdom are losing the most billionaires. China anticipates a decline of 15,200 billionaires in 2024, while the UK will lose 9,500 billionaires. Economic uncertainties and geopolitical tensions are major factors for China. Post-Brexit, the UK is also losing a substantial number of billionaires. Russia and Brazil are witnessing outflows of billionaires as well.
India has experienced an 85% increase in billionaires, and Saudi Arabia has seen a 35% rise. Pakistan is typically not included in any counting due to its sensitive phase.
These numbers illustrate how economic policies, governmental actions, and global circumstances influence billionaire migrations.”