It's worse news in the UK. While the nation has been on the receiving end of HNWIs over the past 30 years, 2017 was the first time it saw a large number of its super-rich wave goodbye, a trend undoubtedly sparked by Brexit. In 2022, the nation also lost a significant number of its Russian billionaires – including Roman Abramovich – as the West hit wealthy oligarchs with sanctions.

A further 9,500 HNWIs were forecast to leave in 2024, marking a new record. In fact, it's more than double the number of millionaires who left in 2023, which in itself was a record at 4,200. Last year heralded another record: not only was the UK forecast to lose 16,500, but it's projected to be the worst affected of any nation in the top 10. It's the first time a European nation has topped the list.

According to Henley & Partners, the most commonly cited reasons for leaving include the ongoing effects of Brexit, government instability, and the implementation of new tax laws under the Labour government.

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