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The number of wealthy Americans applying for citizenship or residency in foreign countries has skyrocketed over the past three years as US billionaires, tech entrepreneurs, and celebrities look to create a "plan B" for their families, multiple investment migration firms told Insider.

Henley & Partners recently collaborated with New World Wealth to release the 2022 Africa Wealth Report which contains some very interesting statistics. We at Business Insider Africa got a hold of the 75-paged report, and hereby bring you the highlights.    

Strong performance in the technology and professional services sectors in Rwanda, Uganda and Mauritius is forecast to see private wealth growth of more than 60% in the next decade.

Total wealth in Africa has fallen by 7% over the past decade mainly because of poor returns in the three largest markets, namely South Africa, Egypt and Nigeria.

Private wealth held in Africa is expected to leap 38% over the next decade to $3 trillion, fueled by growth in the technology and professional services sectors.

The total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next ten years, according to the latest 2022 Africa Wealth Report, published today by Henley & Partners in partnership with New World Wealth.

Indian entrepreneurs, who are looking to launch innovative start-ups, have always been attracted to immigrating. Despite the Covid pandemic not being able to change that, it has certainly changed the destinations on the list.

The closure of airspace due to Russia's military aggression and the opening of borders to Ukrainian refugees has begun to exert influence on global travel freedoms, according to the latest data complied on the world's most travel-friendly passports.

There has been an increase in demand for programs that facilitate resident rights and alternative citizenships says Henley & Partners.

Russia’s invasion of Ukraine has dramatically squashed travel  freedom and mobility in a large chunk of the world, hitting  Russians and reducing their passports to “junk” status .

The Irish passport has been ranked the fifth most powerful worldwide by the number of destinations its holders can access without a prior visa.

The release of the latest Henley Passport Index highlights the impact the current conflict in Ukraine is having on travel freedom and mobility.