fr.euronews.com
142,000 Millionaires to Relocate in 2025, Italy Attracts 3,600
Driven by geopolitical instability and tax competition, over 142,000 millionaires will relocate in 2025, with 3,600 choosing Italy due to its "CR7" flat tax and high quality of life, boosting its $6.9 trillion financial assets projected to reach $9.455 trillion by 2029.
- What are the long-term implications of this trend for Italy's economy and society, considering both potential benefits and risks?
- Italy's financial assets are projected to grow 6.5% annually until 2029, reaching $9.455 trillion. The influx of wealthy individuals could accelerate this growth, though concerns exist about increased inflation in real estate and services.
- How does Italy's "CR7" tax regime contribute to attracting high-net-worth individuals, and what are the potential economic impacts?
- Italy's "CR7" flat tax, offering non-domiciled residents a €200,000 annual tax on foreign income, is a key driver. This, coupled with a high quality of life and growing luxury services sector in Milan, attracts wealthy individuals and contributes to Italy's increasing financial wealth.
- What is the primary factor driving the relocation of over 142,000 millionaires globally in 2025, and what are the immediate consequences for Italy?
- In 2025, over 142,000 millionaires globally will relocate, with 3,600 choosing Italy due to geopolitical tensions and global tax competition. This represents a significant increase, more than doubling in the last decade.
Cognitive Concepts
Framing Bias
The article frames Italy's tax policy and its effect on attracting wealthy individuals very positively, highlighting the benefits and economic growth potential. The headline, though not explicitly provided, would likely emphasize the influx of millionaires to Italy. The description of the "CR7" tax as a 'moteur de l'attractivité fiscale' ('engine of tax attractiveness') is a clear example of positive framing. Conversely, negative consequences are presented as brief counterarguments without extensive detail or counter-evidence.
Language Bias
The article uses positive language to describe Italy's tax regime ("moteur de l'attractivité fiscale", "avantages fiscaux"), while describing the UK's situation as a loss of millionaires. The choice of words suggests a favorable view of Italy's policy and a critical one of the UK's. More neutral terms could be used, such as 'fiscal policy changes' instead of 'loss of millionaires'.
Bias by Omission
The article focuses heavily on the positive aspects of Italy's tax policies attracting wealthy individuals, potentially omitting negative consequences such as increased housing costs or strain on public services. It also doesn't discuss the potential long-term economic effects of this influx of wealth, or compare the overall economic impact to other countries with similar policies. The article mentions critiques of the policy but doesn't provide detailed counterarguments or data to refute them.
False Dichotomy
The article presents a somewhat simplistic view by focusing on the choice between Italy and other locations, like the UK (which lost millionaires) and Monaco (which has no tax), while ignoring other potential destinations and the complexities of individual decisions to relocate. It doesn't consider factors such as family ties or personal preferences outside of financial incentives.
Sustainable Development Goals
The article highlights a tax scheme designed to attract wealthy individuals, potentially exacerbating income inequality. While it may stimulate economic growth, the benefits are concentrated among the wealthy, widening the gap between the rich and the poor. The influx of wealthy individuals could also drive up property prices and the cost of living, further disadvantaging lower-income residents.