USA Wealth Report 2023

The USA has traditionally been a nation of immigrants, with many individuals coming to the country in search of the "American Dream." However, the tide is turning as wealthy Americans are emigrating at an unprecedented rate. This migration surge is driven primarily by political polarization caused by partisan conflicts between Democrats and Republicans, societal issues such as the widening wealth divide, and rising crime rates. Wealthy Americans are also pursuing domicile diversification strategies to safeguard their investments and interests, with many considering investment migration programs in Europe. Programs that are gaining traction among American investors include the Portugal Golden Residence Permit Program, Malta's Granting of Citizenship for Exceptional Services by Direct Investment Regulations, and the Spain Residence by Investment Program, among others. Despite the outflow of wealthy Americans, the country is unlikely to lose its luster as a jurisdiction for entrepreneurs and investors from across the world. However, there has been a drop in net inflows of millionaires to America since 2022, and Henley & Partners anticipate a surge in global millionaire migration over the next year, with 125,000 millionaires projected to migrate internationally, practically doubling the number that migrated in 2015.