Millions on the move
The Story of Wealth Migration: The Increasing Global Mobility of Millionaires and the Consequent Impact on Branded Residences
Millionaire migration has emerged as one of the defining narratives of the decade. The number of high-net-worth individuals (HNWIs) relocating across borders has skyrocketed, surging from an estimated 51,000 in 2013 to a near tripling at around 142,000 in 2025 and further estimates reaching 165,000 by end 2026 (Henley and Partners, 2026). This acceleration indicates a significant restructuring in how the wealthy perceive resources, autonomy and opportunity. The traditional tethers and anchor points of citizenship, nationality and physical residence are being replaced by a highly global and practically borderless approach towards wealth allocation and investment potential. Simply put, global wealth is becoming increasingly mobile and HNWIs (individuals holding at least USD 1 million in liquid investable wealth) are gravitating towards multiple investor-friendly and opportunity-rich destinations, often simultaneously. The nexus of global luxury has transformed, resulting in a consequent and parallel transformation of real estate.
This article examines why the HNWI demographic is mobilising, where they are going, and how such migration is reshaping branded residences – a swiftly evolving niche within luxury real estate that has emerged as the favoured residential option for the global elite.
The PKF hospitality group is an internationally recognised market leader in the field of hospitality. We provide a full range of consulting and other services for the hotel, living, tourism & leisure sectors.
The Future of Hospitality Institute, part of the PKF hospitality group, is a Vienna-based think tank with a global outlook. Our mission is to help industry stakeholders in developing serviced living products that respond to the everchanging needs and wants of modern guests and residents. In particular, the focus is on sustainable and technological advances, tools and ideas that save costs and create a unique user experience.
Akshara Walia, Ph.D.
Director of Research
Location: Vienna, Austria
PKF hospitality group
E: akshara.walia@pkfhospitality.com
M: +43 1 5120707134