Britain Likely to Lose Nearly One in Six Millionaires by 2028: The UBS Global Wealth Report
The UBS Global Wealth Report for 2024 forecasts significant changes in the distribution of dollar millionaires worldwide, with Britain set to experience a notable decline. Summarized Insights: • UK to lose 17% of millionaires. • Non-dom status abolition impacts. • Other countries to see growth. • Taiwan's millionaires to surge 47%. • Global wealth up 4.2% in 2023. Britain is expected to lose nearly one in six of its US dollar millionaires by 2028, according to the UBS Global Wealth Report published on Wednesday. The report predicts a 17% decline in the number of dollar millionaires in Britain, falling to 2,542,464 in 2028 from 3,061,553 last year. This shift is part of a broader trend affecting millionaire populations globally. Paul Donovan, Chief Economist of UBS Global Wealth Management, explained that Britain’s disproportionately high number of millionaires is partly to blame for the expected decline. “You have obviously seen in the UK o
