Latest news with #Henley&Partners'
Time Out
6 days ago
- Time Out
World's most powerful passports 2025: SA climbs the passport ranks
The South African passport is back in the game — climbing two spots to 48th in the latest Henley Passport Index, with visa-free (or visa-on-arrival) access to 103 destinations. It's a modest win. But in a world where passport power signals global standing, economic muscle and strategic diplomacy, it's not just about where we can go, it's also about how open we are in return. The Passport Indexis based on data from the International Air Transport Association (IATA) – seen as the largest, most accurate travel information database, together with Henley & Partners' research team. Here are the Top 10 Most Powerful Passports in 2025 Visa-free access by passport holders, according to the latest Henley Passport Index: Singapore – 193 destinations Japan, South Korea – 190 Denmark, Finland, France, Germany, Ireland, Italy, Spain – 189 Austria, Belgium, Luxembourg, Netherlands, Norway, Portugal, Sweden – 188 Greece, New Zealand, Switzerland – 187 United Kingdom – 186 Australia, Czechia, Hungary, Malta, Poland – 185 Canada, Estonia, UAE – 184 Croatia, Latvia, Slovakia, Slovenia – 183 Iceland, Lithuania, United States – 182 Key passport ranking facts for 2025: South Africans can now travel visa-free to 103 destinations, up from 104 in May, and moving the passport up two places in the global ranking. We're now tied with countries like Georgia and Azerbaijan — but still lagging behind top African nations like Seychelles (26th) and Mauritius (30th). At the top of the 2025 Henley Passport Index is Singapore with access to 193 countries, followed closely by Japan and South Korea (190). The United States continues its decline, now tied at 10th place with only 182 destinations accessible — fewer than a year ago. The average number of destinations accessible visa-free globally has nearly doubled since 2006, from 58 to 109. Top 5 most powerful African passports in 2025, ranked according to the latest Henley Passport Index: Seychelles – Ranked 26th globally, with visa-free or visa-on-arrival access to 156 destinations. Mauritius – 30th globally, access to 149 destinations. South Africa – 49th globally, with 104 destinations (and recently up from 50th). Botswana – 60th globally, access to 91 destinations. Namibia – 65th globally, with 81 destinations. Why South Africa's Passport Still Has Work to Do South Africa's passport has seen a slight rebound in 2025 — a positive sign after a decade marked by stagnation and sporadic declines. But the gap between us and the mobility elite is vast: Singaporeans can visit 90 more destinations without a visa than South Africans. That's not just a travel perk — it's a reflection of deep diplomatic capital, trade partnerships, and reciprocal agreements. Dr Juerg Steffen, CEO of Henley & Partners, puts it plainly: 'Your passport is no longer just a travel document — it's a reflection of your country's diplomatic influence and international relationships.' South Africa's slow ascent highlights a broader reality: We haven't negotiated aggressively enough for more global mobility. And in an era where business, education, and even cultural exchange depend on fast, flexible travel, this limited access can hurt. But What About How Open We Are? Cue the Henley Openness Index, a lesser-known but increasingly important ranking that shows how many nationalities a country lets in without a prior visa. South Africa lands just outside the global Top 50 for openness at 57, allowing 86 nations visa-free access — respectable, but hardly revolutionary. We're more open than the US (which only allows 46 nationalities visa-free), but far behind destinations like Rwanda (198 visa-free) or the Seychelles (197 visa-free), which bodes well for tourism and attracting global investment. In contrast, China, long known for its strict entry policies, now allows visa-free access to 75 countries, up from fewer than 20 just five years ago. That move has helped it leap up 34 spots on the Passport Index since 2015, showing how openness and passport power are interlinked. Why This All Matters for Africa — and SA With the world's top destinations buckling under overtourism, eyes are turning to under-explored, high-potential regions and that spells opportunity for Africa - if we make it easier to visit. With overtourism straining iconic destinations like Venice, Paris and Bali, the world is starting to look elsewhere. Wide-open spaces, deep culture, unfiltered adventure, and serious bang-for-buck? Cape Town and South Africa as a whole has got it in spades. While countries like Kenya and Mauritius have rolled out visa-free or e-visa systems to welcome more travellers, South Africa has long lagged behind. But that may finally be changing. Enter: STAGES and MEETS — two new, fast-tracked digital visa categories launched in July 2025 that signal a long-overdue shift in how South Africa handles global travel and creative business. STAGES (Screen Talent and Global Entertainment Scheme) is built for international filmmakers and production teams. MEETS (Meetings, Events, Exhibitions and Tourism Scheme) targets global delegates and conference organisers. Both are fully online, promise rapid turnaround times, and are designed to unlock job creation and economic growth — especially in Cape Town, where a Netflix production reportedly pulled out last year due to visa delays, costing the city around R400 million. With STAGES, these roadblocks could soon be history as we push towards secure, yet welcoming openness. While our passport power is still middling, improved inbound access will only position South Africa as a competitive, desirable destination in a saturated global market. The reality? Passport power cuts both ways. And with reforms like STAGES and MEETS, South Africa is showing signs of playing the long game. In a multipolar world where travel freedom reflects national power, it's not just about how far we can go. It's also about how easy we make it for the world to come to us. We have the infrastructure. We have the story. Now we just need to drop more of the red tape.
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Business Standard
22-07-2025
- Business Standard
Indian passport climbs 8 spots to rank 77, visa-free access to 59 nations
The Indian passport has climbed eight places to the 77th spot globally in the latest Henley Passport Index 2025 released on Tuesday. Indian passport holders can now travel to 59 countries without needing to apply for a visa in advance. Last year, India had dropped five spots, but it has regained ground by adding just two more destinations to its list of visa-free or visa-on-arrival countries. According to the report, Singapore holds the distinction of being the world's most powerful passport, with visa-free access to 193 destinations out of 227 globally. The third place is occupied by seven European Union passports — Denmark, Finland, France, Germany, Ireland, Italy and Spain — with visa-free entry to 189 countries. Austria, Belgium, Luxembourg, the Netherlands, Norway, Portugal and Sweden jointly hold fourth place, with 188 destinations on their list. The fifth position is held by New Zealand, along with Greece and Switzerland. Henley & Partners' Chief Executive Officer Dr Juerg Steffen said the passport has become a measure of a country's diplomatic influence. 'Your passport is no longer just a travel document — it's a reflection of your country's diplomatic influence and international relationships. In an era of growing inequality and mounting geopolitical uncertainty, strategic mobility and citizenship planning are more critical than ever,' he said.
The Citizen
17-06-2025
- Business
- The Citizen
Average rent in Gauteng tops R9k: How do other provinces measure up?
Western Cape remains the most expensive province to rent in, while the Northern Cape has overtaken Gauteng in rental costs. Everyone needs a place to call home, but for many South Africans, owning one is out of reach. Renting becomes the next best option, unless you are staying with your parents. Still, even renting comes at a high price. For most, rent consumes a significant portion of their salary. According to the latest PayProp Rental Index, the average rent in Gauteng, South Africa's land of opportunities, now sits at R9 201. But Gauteng is not even the most expensive province to rent in. The province remains the country's most populated, with the highest population driven by the hope of better opportunities, whether it is landing a job, launching a business, or starting a new life. Cheapest province to rent a place The Index's findings are based on the first quarter of 2025, utilising transaction data from the R1.4 billion in rent that PayProp processes each month, along with credit scoring from Experian. North West, home to Sun City, retained its position as the cheapest province to rent a place in, at R7 153, which is an increase of R852 compared to the previous year. What is surprising is the share of tenants that are in arrears in the North West, as the percentage remains significantly high. Two quarters ago, North West was the second-highest province in the country, with 22.9% of its tenants being in arrears. In this quarter, the province has 18.6% of tenants in arrears. Most expensive province to rent a place As expected, the Western Cape remains the most expensive province in which to rent a place. The Index highlights that the province has had the highest rents in the country during the first quarter of 2024, but only average rental growth, just as it has for the past several years. 'The province experienced the highest growth in South Africa in the second and third quarters, and reached double digits in the fourth quarter,' reads the Index. It would cost you an average of R11 285 to rent a place in the Western Cape, which is R985 more than the previous year. Rent in the province is R1 704 more than the second most expensive province to rent in. '13.7% of Western Cape tenants were in arrears in Q1 2025, 0.5% more than the previous quarter. Tenants in arrears owe 60.2% of the average rent, once again the lowest in SA and down by 0.7% from the previous quarter.' ALSO READ: The ups and downs of Cape Why is the Western Cape loved? Johannesburg was once home to South Africa's wealthiest individuals. However, the tables have turned, with the country's most centi-millionaires now found in Cape Town. Henley & Partners' Centi-Millionaire Report for 2024 outlined that Cape Town has taken the crown due to high hopes of better governance, improved service delivery and greater safety. 'Other factors that come into play when these wealthy individuals make a decision to relocate include the economy, the tax environment, business and investment opportunities, and privacy and security,' read the report. The report listed Cape Town as the most loved holiday destination in the country, with more than 150 centi-millionaires owning second homes in the city. The Mother City is the only city that shows as the elites' favourite holiday destination in the country. Rent in Northern Cape Renting a property in the Northern Cape is more expensive than renting in Gauteng. The Index revealed that the average rent in the province is R9 581, while it is R9 201 to rent in Gauteng. Rent in the Northern Cape is now R307 more than a year earlier, and it remains the second highest in the country. 'The share of tenants in arrears fell to 18.9% in Q1 2025, 0.1% below the previous quarter and 1.9% lower than a year earlier. 'However, the amount they owe rose sharply, from 65.7% last quarter to 71.1% in the latest stats. Even so, this is still well below average.' ALSO READ: Are municipalities failing — or are residents just unable to pay? Why many are turning to off-grid living The fall of Gauteng Gauteng is the geographically smallest province in the country, and its average rent for the first quarter of 2025 increased by R258. The Index is of the view that unless rental growth in Gauteng turns around, it could easily lose its place on the podium this year. '15.6% of tenants owed rent, down from 16.3% in Q4 and the second-lowest share in SA. However, tenants in arrears owe an above-average 86.0% of rent. This is down compared to last quarter's 89.2%, but it is still the second-highest in SA.' The City of Gold has experienced deteriorating service delivery, rising crime rate, mismanagement of public funds, corruption, and collapsing infrastructure, among other issues. What about other provinces The fourth most expensive province to rent in is KwaZulu-Natal, with the average rent being R9 170, an increase of R400. 'The percentage of tenants in arrears in KZN is also unchanged since last quarter, at 19.4%. This is the third-highest percentage in SA, but still the lowest it has been in the province in over five years. 'On the other hand, tenants in arrears owe a below-average 73.5% of rent that has nevertheless risen from last quarter's 71.7%.' Sitting at number five is Limpopo. The average rent in Limpopo is R8 899, R872 more than a year previously. 17.1% of tenants owed rent in Q1, 0.1% more than the previous quarter and still the third lowest in the country. 'However, things have got worse for those already in financial difficulties. The average arrears percentage climbed from 71.8% in the fourth quarter of 2024 to 80.4% in the first quarter of 2025, meaning its tenants now owe the third-highest percentage of rent of any province.' ALSO READ: Warning for South Africans buying homes Mpumalanga, Free State and Eastern Cape According to the Index, Mpumalanga sits in sixth position, with average rent being R8 460, just R91 more than a year earlier. '20.1% of tenants in the province now owe their landlords rent, the second-highest percentage in SA and up from 19.6% last quarter.' The Free State sits in the seventh position, with an average of R7 453, an increase of R526 year-on-year, just enough to overtake Eastern Cape's position. '20.8% of tenants were behind on their rent in Q1, falling from 24.2% last quarter. It is still the highest in the country, but by a lot less than before.' Eastern Cape's average rent is R7 330, up by R309 compared to a year earlier, making it the province with the second-lowest rents in the country. 'The share of tenants in arrears in the Eastern Cape rose to 19.3% from 18.7% the previous quarter for the second-highest quarter-to-quarter increase in SA.' Income and risk The Index also focused on which income brackets are the highest risk. Of applicants earning R80 000 or more, a full 60.6% fall into the minimum risk category, while just 12.2% are classed as high risk. 'Meanwhile, in the lowest income bracket, only 23.0% have the combination of a high credit score and a clean payment history needed to qualify as minimum risk, while 37.0% are considered high risk.' When it comes to age, 20- to 29-year-olds are classified as minimum risk because most of them do not yet have a long credit history that would demonstrate low risk; however, they also have more disposable income left over after debt repayments and rent than any other age group. Meanwhile, 61.3% of individuals aged 60 and above were classified as being at minimum risk. NOW READ: More South Africans buying houses for less than R700k. Here's why
Yahoo
10-06-2025
- Business
- Yahoo
Austin, Step Aside. Scottsdale, Arizona Is America's Fastest-Growing Millionaire Metropolis
If you want to know where America's wealthiest people are heading, go to Scottsdale, Arizona. The towny desert city is hot in more ways than its scorching temperature. According to investment consulting firm Henley & Partners' USA Wealth Report 2025, it is the nation's fastest-growing metro for millionaires. The sun-baked city, known for its chic restaurants and upscale golf clubs, saw its millionaire demographic soar by 125% in a decade — from 2014 to 2024, outstripping Austin, Texas, which formerly held the top spot. 'Scottsdale has grabbed the attention of high-earning households over the last decade as luxury buyers flock to the area in search of sunshine and access to the area's amenities, such as golf courses and resorts,' Hannah Jones, a senior economic research analyst at said. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Invest where it hurts — and help millions heal:. The USA Wealth Report 2025 puts much of the city's rapid growth down to its tech sector. Companies with offices in Scottsdale include Yelp (NYSE:YELP), Indeed and Weebly. A host of other tech companies are based in nearby Phoenix, which has become a hub for semiconductor manufacturing and the development of autonomous vehicles, including self-driving cars and drones, CNBC reports. Anne Hoecker, global head of technology at Bain Global, told CNBC that Phoenix's 'favorable business environment,' the 'ecosystem of other companies,' and its 'close proximity to a university that has a strong engineering program' make it ideally suited to be a leading tech city. The University in question is Arizona State, whose SkySong, The Scottsdale Innovation Center, has helped to launch over 100 startups since its founding in 2008, according to the city's economic development website, Choose Scottsdale. Trending: Maximize saving for your retirement and cut down on taxes: . One of the biggest drivers of big money in the area has been the presence of global tech powerhouses Intel (NASDAQ:INTC), Google and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM). TMSC pledged to invest $65 billion in the greater Phoenix area by the end of the decade as part of an overall $165 billion U.S. investment package. As part of the investment, the company agreed to build a science and technology park, which, once complete, is expected to create 62,000 jobs, CNBC says. 'They're basically duplicating the science park concept that was pioneered in Taiwan,' Rick Cassidy, chairman of TSMC Arizona, told the outlet. 'It solves lots of problems for our smaller suppliers. They can actually rent space and just plug in.' Wealthy tech executives working in the greater Phoenix area have chosen to settle in Scottsdale and nearby Paradise Valley. According to the Henley & Partners report, as of 2024, 14,800 millionaires, 64 centimillionaires, and five billionaires resided in the Scottsdale area, making it one of the wealthiest small cities in the U.S. To put this into context, according to Henley & Partners, 36% of the world's centi-millionaires, with a net worth of $100 million or more, and 33% of its billionaires reside in America.'The luxury housing market in Scottsdale has boomed as buyers, particularly from California, take advantage of the area's appealing standard of living,' Jones says. 'Significant investment in the area has only heightened Scottsdale's appeal as builders and developers cater to these new movers.' According to Zillow, the average home price in Paradise Valley's 85253 zip code is over $3 million, with a median price of $4.4 million, representing a 10% increase over the last 12 months. 'It's a different world here now,' Cheryl Anderson, a real estate agent with Russ Lyon Sotheby's International Realty, told The Wall Street Journal in January 2024 after witnessing a decade of rapid growth. 'Real estate prices have gone crazy.' Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Austin, Step Aside. Scottsdale, Arizona Is America's Fastest-Growing Millionaire Metropolis originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Newsweek
02-06-2025
- Business
- Newsweek
Austin Dethroned as Millionaires Flock to Arizona City
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. The desert city of Scottsdale, Arizona, has become the fastest-growing millionaire hub in the nation over the Texas capital, Austin, which only last year ranked first in Henley & Partners' list of U.S. metros attracting the ultra-wealthy. The former pandemic boomtown of Austin, which has been experiencing a dramatic correction over the past couple of years, has fallen out of the top five in Henley & Partners' latest report on the fastest-growing wealth hubs in the U.S., though it remains one of the richest metros in the country. Why It Matters Over the last decade and especially in the years following the outbreak of the COVID-19 pandemic, Austin became a massively popular destination for both businesses and out-of-state movers attracted by the city's vibrant culture, thriving job market and high quality of life. The city's appeal grew as Austin became known as a hub for tech giants such as Dell, Apple, Google and Tesla, attracting millionaires from all over the country. Many high-net individuals left expensive metropolises such as San Francisco, New York and Los Angeles to relocate to Austin, which combined the charm of a mid-size city with the opportunities traditionally found in bigger, much more expensive hubs. But its status as a tech powerhouse now seems to be threatened by the uncertainty surrounding the sector, which is still going through significant workforce cuts, return-to-work policies and the growth of rival tech hubs such as Scottsdale. What To Know While Austin was the fastest-growing millionaire hub in the nation in Henley & Partners' 2024 report, this year it does not even feature in the top five. It has been dethroned by Scottsdale, which between 2014 and 2024 has seen its millionaire population grow by 125 percent. Traffic and people cross the South Congress Avenue bridge, with the Austin skyline in the background, Texas. Traffic and people cross the South Congress Avenue bridge, with the Austin skyline in the background, Texas. Getty Images The Arizona desert city now counts 14,800 millionaire residents, 64 centi-millionaires and five billionaires and is home to major tech businesses such as GoDaddy, Microchip Technologies, Avnet, Insight Enterprises and Onsemi. It was followed by West Palm Beach, Florida, which grew its millionaire demographic by 112 percent in the same decade, and now counts among its total residents 11,500 millionaires, 78 centi-millionaires and 10 billionaires. The city has likely been benefiting from the high numbers of ultra-wealthy senior citizens retiring in the Sunshine State. The Bay Area, which includes San Francisco and the Silicon Valley, was the third-fastest growing millionaire hub, having seen its millionaire population grow by 98 percent between 2014 and 2024. The area had 342,400 millionaires, 756 centi-millionaires and 82 billionaires. In fourth place was another Florida city, Miami, which saw its millionaire demographics go up by 94 percent between 2014 and 2024. The city has 38,800 millionaires, 180 centi-millionaires and 17 billionaires. Same as West Palm Beach, Miami has likely benefited from the Sunshine State's status as a retirement haven and the lack of a state income tax. It was followed by Washington, D.C., which grew its population of millionaires by 92 percent in that same decade to reach a total of 28,900, likely as wealthy individuals wanted to be close to the heart of U.S. politics. The city also has 97 centi-millionaires and 12 billionaires. While Austin fell out of the top five fastest-growing millionaire hubs in the country, it was still the 10th wealthiest city in the country after New York City, the Bay Area, Los Angeles, Chicago, Houston, Dallas, Seattle, Boston and Miami. While some cities experienced a far bigger increase, Austin's millionaire population still grew by an impressive 90 percent between 2014 and 2024. What People Are Saying Andrew Amoils, head of Research at New World Wealth, which collaborated on the Henley & Partners' report, said in a press release: "America is the undisputed world leader when it comes to high-growth tech sectors such as software, microchips, online retail, internet hosting, social media, search engines and AI. As a result of this dominance, many tech entrepreneurs choose to move to the country in order to take their businesses to the next level." He added: "While the Bay Area remains the epicenter of this innovation ecosystem and the top global destination for wealthy tech entrepreneurs, we're also seeing a broader migration trend. Trade tensions and shifting economic priorities are driving HNWIs towards more business-friendly environments, with cities like Tampa, Salt Lake City, Denver and Santa Fe emerging as attractive alternatives thanks to their affordability, lifestyle appeal, and investment potential." He told "Austin's tech sector has slowed down over the past couple of years. This may be linked to the emergence of new tech hubs such as Tampa and Scottsdale. During the [COVID-19] pandemic, Austin was a hub of activity for out-of-state movers, but this trend has shifted as return-to-work policies and headwinds in the tech sector mean Austin has lost some of its luster." Henley & Partners said in a recent report of Austin: "While wealth growth in the city has slowed over the past couple of years, it remains very impressive when viewed over the past decade as a whole." senior economic research analyst Hannah Jones said in a recent article commenting on the report: "Scottsdale has grabbed the attention of high-earning households over the last decade as luxury buyers flock to the area in search of sunshine and access to the area's amenities, such as golf courses and resorts." What Happens Next While the U.S. remains attractive to investors, Henley & Partners' report warns that the ultra-wealthy are increasingly eyeing opportunities abroad amid growing economic uncertainty around the President Donald Trump's administration. The company reported a 183 percent increase in the first quarter of 2025 compared to the same period last year, in inquiries from U.S. nationals for alternative residence and citizenship, as high-net individuals seek to diversify their portfolio and protect their assets from volatility in the markets. "In an era of rising geopolitical volatility, wealthy individuals and families are reassessing where, how, and what they own," Jacob Shapiro, head of geopolitical & macro research and senior client relationship manager at Bespoke Group, said in the Henley & Partners' USA Wealth Report. "The age of unchallenged U.S. dominance is over, replaced by a multi-polar world marked by fiscal recklessness, military confrontation, and political instability. As America's golden age of investment fades, the country's wealthiest are moving their money—and their lives—abroad in record numbers. Global diversification is no longer optional, but essential, for preserving wealth, lifestyle, and legacy in a world where opportunity is shifting beyond U.S. borders." This could mean further losses for cities like Austin—as well as Scottsdale. But Henley & Partners believes that for most wealthy individuals in the U.S., permanently leaving the country is not what they want. "Most American clients we engage with are primarily wanting a Plan B or option to relocate if they need or want to but almost all of them say they don't want to leave the US, even temporarily," Basil Mohr-Elzeki, head of North America at Henley & Partners, told Newsweek. "They just want to have something in place so that they have the option if it becomes necessary."
