According to a recent forecast by the Henley Global Citizens Report, the United Arab Emirates (UAE) is still to set to lead the world in attracting millionaires to its economy in 2023. The report, which tracks private wealth and investment migration trends worldwide, states that the UAE, Australia, Singapore, Israel, Switzerland, the United States, Portugal, Greece, Canada, and New Zealand are among the top 10 countries in attracting U.S. dollar millionaires, also known as high net worth individuals (HNWIs).

The report cites data from research firm New World Wealth, which predicts that the countries with the highest net outflows of millionaires will be Russia, China, India, Hong Kong, Ukraine, Brazil, the United Kingdom, Mexico, Saudi Arabia, and Indonesia. According to the report, "A tsunami of private capital has left Russia and the Ukraine, the UK has lost its wealth hub crown, and the U.S. is fading fast as a magnet for the world’s wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2023."

The report suggests that the UAE's popularity among Russian immigrants, as well as its regulations aimed at attracting private wealth, capital, and talent, has played a significant role in its success in attracting HNWIs. Additionally, the threat of higher taxes in the United States is noted as a potential factor in the country's decline in popularity among migrating millionaires. The report states that although the United States still attracts more HNWIs than it loses to emigration, which saw a net inflow of 10,800 millionaires.

China is also experiencing a decline in popularity among HNWIs, with a huge net outflow expected in 2023. The report attributes this to a general slowing of wealth growth in the country over the past few years, as well as China's deteriorating relationships with Australia and the United States.

The report concludes that countries that are successful in attracting wealthy individuals and families tend to have low crime rates, competitive tax rates, and attractive business opportunities. This highlights the importance of a stable and attractive environment for businesses and investors in order to attract and retain wealth and talent.