In an unexpected turn that might just change how we view the wandering ways of Americans, there’s been a noticeable jump in the number of U.S. citizens packing their bags for good.
Astons, the whizzes in international real estate, residency, and citizenship through investment, have been keeping a keen eye on this trend, documenting every uptick that outstrips figures from previous years.
Hot off the pages of the U.S. Federal Register comes some striking news: a 28.3% jump in Americans heading abroad during the first three quarters of 2024—already outpacing all of 2023.
What makes this even more intriguing is the timing, as it happened before the presidential election dust settled, ushering Donald Trump back into the White House.
The third quarter of 2024 really turned heads with a record 2,123 Americans deciding to up sticks and leave, the highest quarterly figure since the peak of the COVID-19 crisis back in mid-2020.
Diversifying through Golden Visas
Amidst political and economic uncertainty, more Americans are leveraging the Golden Visa programs as escape routes.
These residency-by-investment programs are catching on fast among the well-heeled set, offering a savvy way for high-net-worth individuals to spread their personal and financial risks across various countries instead of putting all their eggs in the U.S. economic basket.
Europe, with its easy access to the EU and the travel perks of the Schengen area, continues to draw in most Americans looking to relocate.
Greece has really stepped into the spotlight, grabbing around half of all U.S. Golden Visa applications handled by Astons this year alone.
By year’s end, the number of American Golden Visa holders in Greece is anticipated to double from the previous year.
The allure of Greece is not only its relatively low investment threshold of $264,208, which secures a five-year residency for the investor’s entire family, but also its robust real estate market and strong economic performance.
Expert Insight
Alena Lesina, who knows the ins and outs of citizenship, residence permits, and real estate investment at Astons, offers more insight: “We are seeing a surge in US citizens using investment as a means of seeking residency or citizenship to other countries. This number has been steadily increasing through the first three quarters of this year, and this is a trend that is being mirrored with respect to the total number of US citizens choosing to expatriate.
We’ve already seen a significant uptick in activity from US citizens following the election and we forecast that the final quarter of this year will only intensify the trends seen over the first nine months of this year.
Europe is a key destination for these US expats, and Greece finds itself in the top echelon of popular European Golden Visa nations.
The country is in high demand amongst wealthy American expats, so anyone who has eyes on Greek residency is advised to act sooner rather than later.”
As the global political and economic landscape shifts, more Americans are eyeing Greece not just as a safe haven but as a savvy investment opportunity.
Greece’s Golden Visa program is gaining serious traction, making it a top choice for those considering a move. If you’re thinking about relocating, now might be the perfect time to take the plunge.
The burgeoning trend of U.S. expatriation underscores a broader narrative of global mobility and the pursuit of diverse life and investment opportunities beyond American borders.