Released earlier this year, the World Citizenship Report (WCR) is an industry-first endeavour to investigate the value of citizenship through the lens of the global-minded individual.
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More about the World Citizenship Report
Now in its second year, the WCR continues to build on its reputation as an ambitious product reflecting the evolving nature of these attitudes toward citizenship, and one that is in tune with the defining issues of our time with respect to global citizens, including health and wellbeing, environmental sustainability, and shifting investment priorities.
The World Citizenship Index (WCI), WCR’s data-driven tool, measures 188 countries across five motivators that are most relevant among the newest generation of global citizens: the mass affluent population.
The five motivators
The WCR highlights the strengths and weaknesses of each country through the assessment of five
key motivators. The unique methodology of the WCR is a product of comprehensive qualitative and
quantitative research to evaluate 188 nationalities across five motivators of citizenship according to
their value to a mass affluent population across the globe.
What the World Citizenship Report says about Safety and Security
The comprehensive analysis is carried out through the lens of a global citizen and delves into the motivations behind the rising popularity of alternative citizenship. The report includes a newly expanded audience that covers 1000 mass affluent participants from around the world.
The ability to feel safe in one’s immediate environment is the foundation for a stable and secure society. Not only does the absence of physical and political violence make individuals more likely to engage in productive activities and contribute to the overall well-being of society, safety and security is the cornerstone for protecting individual rights and freedoms.
The recent invasion of Ukraine along with ongoing armed conflicts in Myanmar and several African countries all serve as a brutal reminder of the relative fragility of peace in an increasingly interconnected world. Furthermore, it shows that hard power still matters and that employing military might to alter political realities is not a thing of the past.
While technology has facilitated how individuals can manage business and investment affairs remotely, global citizenship can also provide the geographical diversification necessary to hold assets in a separate legal jurisdiction whilst at the same time offering the insurance of physical safety against a rapidly multiplying number of black swan events.
Looking for freedom elsewhere
The WCR revealed that safety and security have emerged as major driving factors behind the growing popularity of alternative citizenship. High Net worth Individuals (HNWIs) are increasingly exploring the option of obtaining citizenship in other countries to ensure the well-being and protection of their families and assets.
One survey participant said:
“I want security in the sense that if there’s any trouble, you’d expect that the country of citizenship should try and protect you, they may not be able to protect you, but they should try.”
The findings indicate that concerns over safety and security have gained significant prominence in recent years, mainly influenced by recent global uncertainties, geopolitical tensions, and the swiftly changing landscape of socio-political dynamics.
The WCR also underscores the multifaceted nature of safety and security considerations among HNWIs, encompassing both personal and financial dimensions.
Additionally, The WCR reveals that while safety and security for their families is a crucial concern for many participants of the survey, a huge number of respondents also prioritise safeguarding their businesses and the security of their hard-earned wealth.
“For me safety and security is about the safety of my business and the safety of the money that I earn,”
said another participant of the 2023 WCR Survey.
The meaning of safety and security is different for each individual and it is based on their geo-political location. Some individuals are seeking second citizenship merely to get access to basic necessities, a sense of safety and opportunities for personal and professional growth.
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Here’s why some investors are seeking safety and security beyond borders
Access to stable economies: Alternative citizenship offers access to countries with stable economies, robust legal systems, and efficient governance. They can provide enhanced personal security measures, advanced healthcare systems, and better educational opportunities for families.
Ability to be free: The ability to freely travel, reside, and conduct business across borders without excessive visa restrictions has become a priority for high-net-worth global citizens.
The Power of Jurisdiction: The WCR says that some individuals are just in pursuit of attaining a stronger legal framework that better protects their businesses and assets. Countries with well-established legal systems and reliable institutions provide a sense of security.
The changing global dynamics: The Russia-Ukraine conflict, and armed conflicts in Myanmar as well as in several African countries have further fueled the desire for second citizenship as a safeguard against unforeseen circumstances.
A growing threat
As per WCR Report, physical safety has typically been of importance for citizens from regions such as the Middle East where social unrest and armed conflicts have been more prevalent. However, the WCR Report 2023 notes a notable shift in Europe. As per the report, now individuals from Europe are also considering the threat of war, something not experienced for several decades.
“The ability to feel safe in one’s immediate environment is the foundation for a stable and secure society. Not only does the absence of physical and political violence make individuals more likely to engage in productive activities and contribute to the overall well-being of society, safety and security are the cornerstone for protecting individual rights and freedoms,” WCR Report 2023.
The report emphasises that safety and security not only provide individuals with a stable and secure environment but also serve as the foundation for protecting individual rights and freedoms, contributing to the overall well-being of society.
Importantly, the WCR sheds light on the significant role of safety and security in the decision-making process of individuals seeking second citizenship. The report explained that whether it is the pursuit of political stability, legal protection, personal safety, economic stability, or global mobility, the desire for safety and security transcends geographic boundaries.
The report highlights the evolving nature of safety concerns, with Europeans now considering the threat of war for the first time in generations. This changing landscape underscores the universal human need for peace of mind and the proactive measures individuals take to safeguard their families, businesses, and financial well-being.
How can I access the World Citizenship Report?
Click here for more information on our World Citizenship Report 2023. We also take an in-depth look at the five motivators that make up the unique methodology of the WCR.
