Knight Frank, a global property consultancy, has launched its landmark 20th edition of The Wealth Report, identifying a clear shift in how the world's wealthiest individuals, live, work and travel. Increasingly, global wealth is defined by multi-location living, supported by greater long-haul mobility and more frequent movement between key financial and lifestyle hubs.

High-net-worth individuals are increasingly owning homes and operating businesses and dividing their time across multiple locations, driving a rise in private aviation activity. Private aviation data from VistaJet confirms rising activity across a range of routes linking financial centres and lifestyle destinations.

According to VistaJet private aviation data, in 2025, the fastest-growing international private jet corridors included: Africa to Asia – +42 per cent; Middle East to North America – +28 per cent; South America to Europe – +28 per cent; North America to Africa – +26 per cent; Asia to Middle East – +20 per cent; and Europe to the Middle East – +17 per cent.

These increases highlight the expanding links between emerging financial centres, established capitals and high-value lifestyle markets.

While established routes such as New York-London and New York-Miami continue to lead in overall traffic, VistaJet data shows the sharp growth in less traditional pairings that underscores the shift towards multi-location living. Among private jet route pairings seeing the sharpest growth in 2025 are: Jeddah and Riyadh (+269 per cent) – Saudi domestic transformation; Abu Dhabi and London (+238 per cent) – capital flows, sovereign wealth, education; Nantucket and New York (+192 per cent) – multi-home lifestyle boom; Nice and Palma (+137 per cent) – Mediterranean luxury circuit expansion; Farnborough (London) and Samedan (+133 per cent) – alpine luxury travel and winter sports; Washington and White Plains, New York (+107 per cent) – government and finance corridor; Cannes and Paris (+100 per cent) – global festivals and events; Boca Raton and New York (+70 per cent) – wealth and financier co‑location; Mumbai and New Delhi (+68 per cent) – start‑up and enterprise growth; Milan and Paris (+66 per cent) – fashion, luxury and business travel; and Hong Kong and Tokyo (+65 per cent) – regional economic integration.

Liam Bailey, global head of research at Knight Frank, comments: “The profile of private jet users is changing. As confirmed by VistaJet data, a record 47% of its first-time private jet flyers are now under 45, pointing to the growing influence of newer mobile wealth. This increasingly mobile generation is reshaping residential demand, purchasing homes across multiple cities and lifestyle destinations rather than relaying on a single primary base. As a result, we are seeing sustained demand for prime residential property in well-connected global hubs and high-quality second-home markets.”

Ian Moore, chief commercial officer at VistaJet, adds: “Drawing on VistaJet's proprietary global flight data, we see global wealth becoming increasingly mobile, with clients living across multiple cities and continents. Demand for long-haul travel between emerging and established financial hubs is rising, alongside the continued importance of high-frequency European routes. At the same time, the customer profile is shifting, with more first-time flyers under 45, reflecting a younger, globally minded generation of wealth creators. Together, these trends highlight how wealth is being lived today, with seamless global connectivity now essential, and private aviation playing a central role in enabling multi-location living.”

Meanwhile Haute Jets, the on-demand private aviation brand founded by luxury lifestyle media company Haute Living, and 5WPR, one of the largest independently owned PR and digital marketing firms in the United States, today published The Haute Jets Wealth Migration Report, a research report examining the largest single-year international wealth migration on record and the private aviation corridors that have formed around it.

The report synthesises data from Henley & Partners, New World Wealth, Knight Frank, Bank of America, Campden Wealth, RBC, McKinsey, Mordor Intelligence, ARGUS TRAQPak, Avi-Go, WingX, the Internal Revenue Service and leading trade press. Every claim is linked to its source. The full report is available free via the Haute Jets website with no registration required.

Its key findings include: 142,000 millionaires are projected to relocate internationally in 2025, the largest single-year figure on record, per the Henley Private Wealth Migration Report 2025. Projections rise to 165,000 in 2026; The UK is projected to lose around 16,500 millionaires in 2025, the largest single-year millionaire exodus from any country on record. Combined wealth leaving: $91.8 billion. Top destinations: UAE, United States, especially Florida, Italy, Switzerland and Monaco; The UAE leads global wealth attraction with over 9,800 net millionaire inflows, marking its fourth consecutive year at number 1. Dubai alone is forecast to add more than 7,000 new millionaires in 2026; 241,700 crypto millionaires now exist globally per Henley's Crypto Wealth Report 2025, up 40 per cent year-over-year. This includes 145,100 Bitcoin millionaires (up 70 per cent), 450 crypto centi-millionaires and 36 crypto billionaires; Florida captured $20.7 billion in net AGI through US interstate migration in 2023, nearly four times second-place Texas. Miami-Dade luxury home sales above $1 million surged 147 per cent between 2019 and 2024; West Palm Beach luxury home prices rose 187.3 per cent over the past decade, the fastest luxury price growth of any major US metro; and global business jet departures reached a record 3.88 million in 2025, 34 per cent above pre-pandemic 2019 levels. NetJets alone flew nearly 12 per cent of all global business jet trips; charter services lead the private aviation market with 51.88 per cent of 2025 revenue. Fractional ownership is the fastest-growing segment, projected at 12.18 per cent CAGR through 2031; and the US Great Wealth Transfer is projected to move $124 trillion through 2048. Family offices now oversee more than $3 trillion globally.

"What the data shows in 2025 is not a softening of wealth migration, it is an acceleration and a diversification,” remarks Ronn Torossian, founder and chairman of 5WPR. “The old pattern of UK to Switzerland, New York to Florida, is now layered with crypto wealth moving to Dubai, Latin American capital landing in Miami and a new generation relocating for tax structure as much as lifestyle. Every one of these migration events is a multi-home lifestyle being built. The private aviation industry sits at the intersection, and that intersection has never been more active.”

“For Haute Jets, this research confirms what we see every day at the operational level,” adds Kamal Hotchandani. "The New York-to-Miami corridor, the London-to-Dubai corridor, Miami-to-São Paulo, Miami-to-Caracas, these are not just private aviation routes. They are the physical connective tissue of a global UHNW class now living across three or four residences. Understanding where the wealth is moving is prerequisite to serving it.”

The report also documents the institutional transformation of Miami into what market participants now call ‘Wall Street South’: Citadel relocated its global headquarters from Chicago in 2022 and is building a $2.5 billion Norman Foster-designed tower on Brickell Bay, joined by Thoma Bravo, Point72, Elliott Management, Apollo, Starwood Capital, Blackstone and Banco Santander. Miami Alts Week now draws over 6,000 attendees annually.

The private aviation volume story is equally clear. Part 91K fractional departures are up 75.5 per cent since 2019. Ultra-long-range jet activity is up 70 per cent on 2019. Latin American private aviation grew 11 per cent in 2025, the second-fastest regional growth globally, with Brazil posting 45 per cent year-over-year growth, Colombia 42 per cent and Venezuela 34 per cent.