Research by Astons, the alternative residency and citizenship acquisition experts, has revealed which Golden Visa investment programs are contributing the most money to the GDP of their respective nations.
Astons looked at the 15 highest-grossing global investment migration programs, which have seen the most considerable uplift on an annual basis, as well as highlighting which programs are contributing the most to the GDP of the nation.
The latest data shows that investment migration across the 15 highest-grossing nations reached a total of $10.325 billion last year.
The highest-grossing nation is the United States, with a total of $1.8bn invested, closely followed by Cyprus ($1.483bn) and Turkey ($1.340bn). The UK ranks at number four, with $959m invested last year.
The total sum invested across these 15 nations has increased by 7% year on year, with Turkey seeing a tremendous increase of 1164% having shown some signs of economic stability returning.
Saint Lucia has seen the second-largest increase on an annual basis, with investment into its migration program increasing by 130%. Greece (77%), Antigua and Barbuda (65%) and Thailand (27%) have also seen some of the most notable uplifts in annual revenue via their migration investment programs.
However, it is Vanuatu that has seen its migration investment program deliver the most extensive degree of financial success when considering this revenue as a percentage of GDP.
On average, migration investment across these 15 highest-grossing nations accounts for 1.7% of GDP, but in Vanuatu, this figure climbs to as high as 8.7%.
In Cyprus, the Golden Visa program accounts for 4.6% of GDP, with 4.4% of Antigua and Barbuda’s GDP also coming via their migration investment program.
Grenada (3.8%), and Malta (1.4%) have also seen their respective Golden Visa program contribute very positively to the GDP of each nation.
In contrast, while the UK is amongst the highest for total revenue, its Golden Visa program accounts for just 0.3% of GDP.
Managing Director of Astons, Arthur Sarkisian, commented: “It’s clear that migration investment programs are benefitting nations that offer them across the board, whether it be the total sum invested, an increase in investment or simply the contribution these programs make to the wider GDP of a country.
Of course, the current landscape is likely to have an impact, and it will be interesting to see the extent of this.
On the one hand, we’ve seen travel restrictions and economic fragility impact appetite from a business of point of view. However, on the other hand, we’ve seen a sharp increase in demand from high-net-worth individuals who are keen to escape the threat of Covid-19 by securing residency or citizenship in a remote hideaway such as Vanuatu or the Caribbean.
While we may see an overall decline in investment for 2020, it is likely to be marginal, and there will also be pandemic fuelled frontrunners that see a notable jump in investment levels.”