The hedge fund set can’t resist the lure of Dubai
The exodus of talent from the UK and elsewhere is real; efforts to stem it need to be equally genuine
SHOULD emigration, rather than immigration, be the real concern for ageing rich societies in 2026? I have lost track of the anecdotal evidence of disaffected working-age contacts relocating from the UK or France to the United Arab Emirates (UAE) or Switzerland for more predictable – read lower – taxes.
Fund managers are more likely to analyse Milan and Dubai as places to move to than investing markets. And the fight for talent is only getting tougher, with former British prime minister David Cameron recently warning of an exodus of talented Brits heading to Dubai and Abu Dhabi.
Cameron is right to be concerned, and not just because of recent arrivals in the UAE such as Revolut’s CEO Nikolay Storonsky. While the mega-rich are always flighty, this goes beyond the Monaco-or-bust crowd – a net 110,000 British people aged 16 to 34 emigrated in the year to March, Office for National Statistics estimates indicated.
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