In 2025, a record-breaking 142,000 millionaires are expected to relocate globally, with Italy projected to be the third most popular destination—welcoming around 3,600 wealthy individuals. The top spots go to the United Arab Emirates (9,800) and the United States (7,500), followed by Italy, which edges out Switzerland (3,000).

This trend reflects a growing wave of wealth migration, driven in part by global political instability. While most millionaires tend to stay put—fewer than 1% relocate each year—the total number of those moving is on the rise, particularly among the ultra-wealthy. Many countries are actively competing to attract these high-net-worth individuals by offering favorable tax programs—some of which drastically reduce, or even eliminate, tax burdens.