Rabat – A recent report by Henly & Partners and New World Wealth indicates that Morocco has emerged as one of the top countries in terms of net inflows and outflows of millionaires and private wealth distributors.
With its ongoing efforts to create a favorable environment for investors, Morocco ranked as the 20th most attractive destination for the wealthy. The report expects the country to welcome around 100 wealthy individuals in 2023.
Titled “Henley Private Wealth Migration Report 2023,” the report highlighted Morocco, Luxembourg, and Mauritius as some of the most promising markets that continue to catch the attention of rich people worldwide.
Meanwhile, Australia led the ranking as the most desirable destination for the wealthy, with more than 5,200 high-net-worth individuals (HNWI) anticipated to come to the country in 2023.
The United Arab Emirates (UAE) and Singapore followed as the second and third most attractive destinations for the wealthy, with 4,500 and 3,200 HNWI respectively.
Following are the United States (2,100 HNWI), Switzerland (1,800 HNWI), and Canada (1,600 HNWI) in the fourth, fifth, and sixth spots respectively.
The report expects migration patterns of private wealth to return to pre-pandemic levels in 2023.
Read also: Wealth Report: Morocco Among ‘Big 5’ Wealth Markets in Africa
In addition, it expects China to continue experiencing the largest outflow of HNWIs, a trend that has been ongoing since 2013.
According to the report, affluent families around the world are becoming increasingly concerned with the “ongoing volatility” in various aspects, including security, politics, and economics.
This current context prompts wealthy families to diversify their portfolio of residences through investment migration to “enhance economic mobility and protect their lifestyles, wealth, and legacies,” the report found.
