Morocco emerged as one of the top 20 most attractive countries for wealthy individuals, according to Henley & Partners’ annual report (June 2023 edition). The report tracks the rich and wealth migration trends.
Morocco was ranked 20th, thus joining big nations such as Australia, the UAE, and Singapore.
Morocco, Luxembourg, and Mauritius are promising markets for the wealthy, and have maintained their appeal between 2022 and 2023 despite the pandemic and Ukraine crisis-related complications, said the report.
Countries that have lost wealthy citizens include China, India, Britain and Russia, which has been clearly affected by the war.
The recent report also emphasized that one of the main reasons driving the outflow of the rich population is the search for economic security and freedom, which is now prevalent in many developing countries.
Governments in developing countries, including Morocco, must capitalize on migration by creating an economic and legal climate conducive to restoring the reassurance wealthy individuals are seeking, concluded the report.