Dollar Millionaires in Kenya

One hundred millionaires (measured in dollars) migrated from Kenya in 2022, for various reasons, according to Henley Private Wealth Migration Report 2023.

The report, which also lists a variety of reasons that influence the wealthy to migrate from one country to another, attributes political instability and taxation as key factors.

What motivates the world’s wealthiest to move away from their country?

According to the report, affluent families are extremely mobile, and their transnational movements can provide an early warning signal in terms of a country’s economic outlook and future country trends.

“An increasing outflow of millionaires often points to a drop in confidence in a country, since high- and ultra-high-net-worth individuals have the means to leave and are usually the first to exit and vote with their feet when circumstances deteriorate”.

The top priorities of the wealthiest

Political stability, low taxation, and personal freedom are key factors for millionaires when it comes to deciding where to live.

Which countries are the wealthy migrating to in 2023?

Wealthy families relocating this year are opting for Australia UAE, Singapore, and the USA according to the Henley Private Wealth Migration Report 2023.