CS Global Partners, a leading name in the investment immigration industry, released the World Citizenship Report 2023, which evaluated the nationality preferences of global citizens. About 188 countries have been included in the report, and analysis was made the basis of five motivators, namely , Safety and Security, Economic Opportunity, Quality of Life, Global Mobility and Financial Freedom.
Denmark, with a score of 87.6, has replaced Switzerland(87.3) to occupy the top spot in the World Citizenship Report 2023. While Finland has retained its third spot this year, scoring 86.8.
Sweden stood fourth with a score of 85.9, followed by New Zealand(85.8) and Norway at sixth, scoring 85.4. Other than these, Netherlands, Singapore, Luxembourg and Iceland have made it to the top 10 nations in the World Citizenship Report 2023. Notably, the countries’ Global rankings in the World Citizenship Report 2023 haven’t changed much, with only a slight change in the positions evident in 2023.
However, the country that witnessed a significant change in rankings is The Republic of Korea, experiencing the most significant drop as in 2022, it ranked at number 28, falling 20 spots to number 48 in 2023. On the contrary, the biggest climber was Sao Tome and Principe, which ranked at number 106 in 2022, climbing 27 spots to 79 in 2023.
At the same time, the Caribbean Nations, including the Commonwealth of Dominica, St Kitts and Nevis and Saint Lucia, with their Citizenship by Investment programmes, have strengthened their claim in the investment immigration industry as the nations maintained their position in the top 30 per cent in 2023.
As the CEO of CS Global Partners, Micha-Rose Emmett, noted, the latest edition of the World Citizenship Report encircles a much larger audience, covering 1000 mass affluent participants from across the globe than being confined to the High Net Worth Individuals.
Freedom remained the ultimate goal of these individuals. With the individuals hailing from diverse nationalities, professional and socio-economic backgrounds, these individuals possess a different perspective of freedom.
In her words, “What that freedom means for each person is different and depends on their circumstances.”
“I would like to encourage you to explore each motivator and identify the factors that would drive you to pursue alternative citizenship. The World Citizenship Report is an excellent resource that can help you gain a comprehensive understanding of citizenship.
It highlights the links between individuals and the collective, personal sphere and the larger socio-economic domain, and sheds light on the elements that shape one’s identity and sense of belonging”, added Micha-Rose Emmett.
Considering the backdrop of the Russia-Ukraine War and the unprecedented societal instability it has introduced, the citizens seek to relocate to the nations with peace, safety and security of their families. At the same time, the after-effects of the pandemic have left individuals seeking countries that provide a sense of security to their citizens.
On the basis of safety and security, the following are the nations that have been ranked highest in the World Citizenship Report 2023:
Iceland stands at the apex regarding safety and security, with a score of 95.8, followed by New Zealand, scoring 95.1. The first runner-up, Switzerland, stands third with a score of 93.1. Denmark, with a score of 92.2, has been followed by Norway (92).
The availability of adequate economic opportunities is among the major motivators for individuals seeking relocation to other countries, with enhanced access to the world’s greatest business hubs and a network of diversified markets. The availability of opportunities for personal and financial growth in the country provided a considerable push to its rankings in the World Citizenship Report 2023, which ranked Singapore at the top for being the country with the highest growth opportunities.
The second rank has been secured by the United States of America, which scored 83.7, followed by Hong Kong (83.1) and the Netherlands, scoring 82.4. Meanwhile, Switzerland and Japan, with 82.3 scores, stood in fifth ranking. The subsequent rankings were secured by Germany, Denmark, Sweden, the United Kingdom and Finland, respectively.
“Although somewhat of an intangible, quality of life remains front and centre of what makes citizenship desirable. The World Citizenship Report surveyed the opinions of mass affluents globally on the most important features of citizenship, and ‘Quality of Life’ ranked in the first position of the WCI’s five motivators, eclipsing both Physical Safety and Financial Freedom.
In the Quality of Life upfront, Monaco, with its unrivalled social and institutional stability; the availability of world-class educational and health institutions, has been ranked first with a score of 90.9, followed by Denmark with 90.6. Hong Kong has ranked third in the Quality of Life also, with a score of 90.4. The fourth and fifth position has been secured by Finland and Sweden, scoring 89.6 and 89.2, respectively.
The World Citizenship Report stressed the fact that the urge for second citizenship arose majorly from the travel benefits that it accompanied. The composition for a reason to travel is as follows; 31% for travel for leisure activities, 23 % for business purposes and 22% for reasons of safety and security. Thus, the Global Mobility motivator forms one of the main parameters of evaluation, as the privilege to travel without restrictions is what the citizens seek.
As per the World Citizenship Report 2023 rankings, Japan, with 88.9 made it to the top, followed by Singapore (88.5). Germany and Spain secured the third rank with an equal score of 87.8. Similarly, the fourth rank was also shared by Finland, Italy and Luxembourg scoring 87.5. The Fifth rank was also shared by four countries, including Austria, Denmark, Netherlands and Sweden, scoring 87.1.
The Financial Freedom motivator is the degree of the country’s capability to provide options to plan wealth with the highest degree of tax efficiency and an environment conducive to establishing and expanding businesses. Denmark has emerged as the topper in this context, with an overall score of 84, New Zealand securing 83.8, Singapore at 83.7, Switzerland with 83.1 and Finland scoring 82.7.
Remarkably, the World Citizenship Report 2023 has encircled broader aspects towards evaluating the desirability of the countries. CS Global Partners have deployed an unorthodox methodology with its comprehensive research on 188 countries and ranking them on the basis of five major motivators and scores attained on a scale of 100 in the World Citizenship Index(WCI).