In 2025, approximately 142,000 millionaires chose to relocate to another country, with projections suggesting this could rise to 165,000 in 2026, marking the largest voluntary transfer of private wealth in modern history, according to the Henley Private Wealth Migration Report 2025.

The UK provides a clear example of how domestic policy shifts and foreign incentives can reshape the mobility patterns of high-net-worth individuals (HNWIs). Between 2024 and 2025, the UK government abolished the non-domicile tax regime (April 2025), increased capital gains rates and removed some inheritance tax reliefs and exemptions (October 2024), and closed the Tier 1 Investor Visa route. For globally mobile individuals seeking to preserve wealth and optimise investment returns, these policy shifts have fundamentally altered the UK’s attractiveness.

In contrast, countries such as the United Arab Emirates (UAE) have introduced targeted pull factors, including long-term Golden Visa residency programmes for investors and entrepreneurs. These initiatives offer relocation into low-tax environments with business-friendly conditions. The approach has proven effective: the UAE attracted approximately 9,800 HNWIs in 2025, bringing in significant investable wealth.

This movement of wealth forms part of a broader British emigration trend. Data from the Office for National Statistics (ONS) shows a net migration loss of 109,000 UK nationals in the year ending June 2025, with over three quarters (76%) of those leaving under 35 – primarily early-career professionals and skilled workers. While HNWIs are responding to tax policy changes and seeking wealth preservation, younger professionals are chasing opportunities that they feel they can no longer get in the UK: affordable housing, accelerated career paths, and better work-life balance.

This trend is reflected in the broader migration picture. Overall, UK net migration fell 68% from 649,000 in the year ending June 2024 to 204,000 in the year ending June 2025. While much of this decline reflects reduced non-European Union (EU) immigration following visa restrictions, when considered alongside the outflow of British nationals, it signals a structural change in how globally mobile individuals view the UK as a base for building wealth, careers, and lives.

As the UK experiences both a loss of wealth and talent, other countries are increasingly adapting their immigration and labour policies to attract and retain wealthy individuals and skilled professionals.

In Europe, migration patterns are subtly evolving. United Nations (UN) data shows surprising growth in British populations in Poland, Malta, and Romania between 2020 and 2024, likely driven in part by EU nationals returning home with British partners. Meanwhile, Portugal and Spain continue to attract both retirees and remote workers through favourable tax schemes and digital nomad visas, while Switzerland maintains its appeal for wealth preservation through its lump-sum taxation system.

In the Middle East, Saudi Arabia is increasingly positioning itself as a competitive alternative to the UAE. The country recorded an eight-fold increase in millionaire inflows in 2025, supported by tax-free income structures and the economic diversification agenda under Vision 2030, which is driving fresh demand across sectors including healthcare, infrastructure, education, and financial services. For both HNWIs seeking investment opportunities and professionals pursuing career growth, Saudi Arabia represents a rapidly maturing market with substantial upside potential.

New frameworks and incentives

Beyond the Middle East, we’re seeing new visa frameworks attracting both wealth and skilled professionals to previously overlooked markets. Malaysia overhauled its Malaysia My Second Home (MM2H) programme in 2024, reducing financial thresholds and simplifying application processes. The results were immediate: the country saw an 84% increase in approvals year on year, with 1,300 applications approved in under 12 months, contributing approximately US$200 million to the domestic economy. This demonstrates how targeted policy reform can rapidly shift migration patterns, creating new demand for international health coverage in emerging markets.

This creates a self-reinforcing cycle, though different groups respond to  different incentives. HNWIs seek low-tax  environments and wealth preservation mechanisms. Young professionals pursue higher salaries, career progression, and quality of life. What countries are discovering is that policies attracting one group often benefit the other: HNWI investment fuels job creation, while skilled talent makes markets more attractive to investors – both responding to strategic positioning for global mobility.

Amid this shifting global landscape, demand for comprehensive health coverage remains constant. For HNWIs and skilled professionals pursuing career advancement or new business ventures abroad, seamless access to high-quality healthcare is essential to safeguarding both productivity and longevity. As migratory hubs diversify, the operating environment for premium international healthcare providers is becoming increasingly complex. Providers that understand this complexity and respond to it through comprehensive product offerings are those who will succeed.

While traditional hotspots like Australia, the US, Canada, and Spain remain dominant, providers can no longer rely solely on their offerings in countries with long-established access routes for healthcare. Coverage must now extend to Saudi Arabia, Malaysia, and other growing hubs where infrastructure and provider quality can vary.

The expectations of clients are also evolving in line with broader healthcare trends, which adds to the geographical challenge. Today’s globally mobile individuals expect a personalised package that provides them with an efficient service that goes far beyond reactive treatment. They demand preventative care pathways, comprehensive mental health support, and wellbeing services that address the unique stresses of international living.

Digital integration, which was once an added perk, has now become essential too. Members expect 24/7 access through mobile apps, virtual consultations across time zones, and seamless claims processing regardless
of location. For younger professionals especially, user experience matters as much as network quality.

Meeting these expectations requires strategic partnerships with local providers who understand regional healthcare systems and how quality standards are maintained. AXA Global Healthcare’s collaborations with Old Mutual and Executive Healthcare Solutions in East Africa, and Daman in the UAE demonstrate this approach, combining local expertise with the capabilities to best deliver against evolving modern standards.

As migration patterns continue to diversify, international private medical insurance (IPMI) providers must deliver comprehensive care across both established and emerging markets, serving everyone from HNWIs to young professionals building global careers.