US Citizens Flock Abroad in Record Numbers in 2024, Astons Reports

TDT | Manama
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A new report by Astons, a global leader in real estate, residency, and citizenship by investment, reveals a dramatic rise in the number of US citizens choosing to expatriate. The first three quarters of 2024 have already seen more US citizens leaving the country than in all of 2023, according to the latest analysis of US Federal Register data.

The figures indicate that 4,184 US citizens expatriated in the first three quarters of 2024, marking a remarkable 28.3% increase compared to the total number for the entire year of 2023. This surge comes even before the US presidential election, highlighting a growing trend of individuals seeking to plant roots elsewhere.

In Q3 alone, 2,123 US citizens expatriated, the highest quarterly figure since Q2 2020, when 2,406 people left the US. The total number of US expatriates for 2024 is expected to exceed the previous year's numbers, and there is even the possibility that it will surpass the 2020 total, which saw 6,705 US citizens leave, largely due to the impact of the COVID-19 pandemic.

Astons’ analysis points to residency by investment programs, or Golden Visas, as a popular route for many US citizens leaving the country. This trend mirrors the patterns seen during the COVID-19 pandemic, where individuals sought opportunities for greater security and freedom through international residency options.

Europe remains the top destination for US expatriates, with Greece emerging as the most favored choice for those pursuing Golden Visas. Astons reports that Greece accounts for as much as 50% of its US Golden Visa applications in 2024, and by the end of the year, the number of American Golden Visa holders in Greece is expected to double compared to 2023.

As the trend continues to rise, it is clear that an increasing number of US citizens are exploring new opportunities for residency and citizenship abroad.