The number of millionaires in the Philippines has risen by 32% over the past decade, outpacing many of its regional neighbors and even top global economies, according to a 2025 wealth report by global investment migration consultancy Henley & Partners.
Philippines Now Home to 12,800 Millionaires
As of this year, the Philippines boasts approximately 12,800 high-net-worth individuals (HNWIs)—defined as people with at least $1 million in liquid investable assets. This elite group includes 70 centi-millionaires (those with over $100 million) and 12 billionaires.
Scott Moore, Managing Director at Henley & Partners, attributes this consistent wealth growth to the country’s emerging entrepreneurial spirit, the maturation of its financial markets, and the expansion of sectors like real estate and services.
“The Philippines may not yet be a top global destination for wealthy migrants, but its stability and growing economic base offer a strong foundation for future investment,” Moore said.
Philippines Among Fastest-Growing in Millionaire Population
Compared to the world’s ten largest millionaire hubs (W10), the Philippines’ 32% growth puts it in third place globally, following the United States (78%) and China (74%).
This notable increase in Filipino millionaires places the country ahead of established economies like Germany, Japan, and the UK in terms of millionaire population growth rate.
Global Millionaire Rankings: Where the Rich Reside
Here’s how the top countries stack up based on the total number of millionaires:
- USA – 6.041 million
- China – 827,900
- Germany – 781,900
- Japan – 714,000
- UK – 578,400
- France – 490,800
- Australia – 391,000
- Switzerland – 384,500
- Canada – 378,600
- Italy – 318,200
While the Philippines isn’t in the top ten by volume, its growth rate signals strong upward momentum.
Migration Trends: Where Filipino Millionaires Are Headed in 2025
Despite the local wealth boom, the Philippines is projected to experience a net outflow of around 50 millionaires in 2025. Most of them are expected to relocate to wealth hubs like the UAE, USA, and Singapore, driven by lifestyle preferences, better business prospects, or more secure futures for their families.
“Many wealthy individuals are looking for global options—for education, safety, or investment,” said Moore. “But a net loss of 50 is quite minor in the broader context.”
Global Wealth Migration in 2025: Key Highlights
- 142,000 millionaires are expected to relocate globally this year.
- Top destinations: UAE, USA, Italy, Switzerland, Saudi Arabia, Singapore, Portugal, Greece, Canada, and Australia.
- Top countries losing millionaires:
- UK – 16,500
- China – 7,800
- Vietnam – 300
- Indonesia – 250
- Lebanon & Iran – 200 each
- Taiwan & Pakistan – 100 each
Compared to other Asian nations, the Philippines’ minor outflow is not a major concern, especially with its rising millionaire population.
Why the Philippines Is Becoming a Breeding Ground for Wealth
Several key trends have fueled the country’s sharp rise in millionaire count:
- Growth of tech startups and SMEs that are scaling globally
- Rising property values in urban centers like Metro Manila and Cebu
- Stronger domestic consumption and remittance flows
- Expansion of financial services accessible to upper-middle-class entrepreneurs
These factors combine to create a fertile environment for local wealth creation—even as some HNWIs look outward for global diversification.
Outlook: Is the Philippines Ready to Attract More Millionaires?
While still behind in absolute numbers, the rapid pace of HNWI growth in the Philippines positions the country as a rising player in the global wealth landscape. With stable macroeconomic policies and increasing access to international markets, it may only be a matter of time before it begins attracting—not just producing—wealthy individuals.
For policymakers and investors, this trend presents both a challenge and an opportunity: retain local wealth while attracting global investment.