7/10/2024

Greece will be among the top ten countries in the world for the growth in the number of millionaires in 2024, according to the Henley Private Wealth Migration Report by Henley & Partners.

According to the report, the New World Wealth study tracks the movements of over 150,000 wealthy individuals, focusing on those holding stakes in public companies worth more than $30 million.

The database primarily contains information about company founders (more than 50% of the database) as well as individuals in positions such as chairman, CEO, president, director, and managing director.

It is expected that Greece will gain 1,200 new millionaires in 2024, placing the country in 8th place worldwide in this respect.

“Despite a difficult start to the decade following the Greek economic crisis, Greece has recovered dynamically, with a sharp rise in real estate prices and the number of millionaires in recent years. Attica, Mykonos, and Crete have become hotspots for wealthy migrants,” the study notes.

Additionally, Henley & Partners highlights changes introduced by the New Democracy government to the Golden Visa program, noting that “the cost of the Greece Golden Visa program will increase from the current minimum investment of €250,000 to €400,000.”

Investors can still apply under the current minimum threshold of €250,000, provided they make a prepayment by August 31, 2024, and complete their investment by December 31, 2024.

Below are the 10 countries where the number of millionaires is expected to increase the most in 2024:

1. United Arab Emirates (6,700 millionaires)
2. USA (3,800 millionaires)
3. Singapore (3,500 millionaires)
4. Canada (3,200 millionaires)
5. Australia (2,500 millionaires)
6. Italy (2,200 millionaires)
7. Switzerland (1,500 millionaires)
8. Greece (1,200 millionaires)
9. Portugal (800 millionaires)
10. Japan (400 millionaires)

The largest outflow of wealthy individuals is expected in the following countries:

1. China (-15,200 millionaires)
2. United Kingdom (-9,500 millionaires)
3. India (-4,300 millionaires)
4. South Korea (-1,200 millionaires)
5. Russia (-1,000 millionaires)
6. Brazil (-800 millionaires)
7. South Africa (-600 millionaires)
8. Taiwan (-400 millionaires)
9. Nigeria (-300 millionaires)
10. Vietnam (-300 millionaires)