Britons left the UK at more than three times the expected rate last year, revised figures have revealed.
There were 257,000 British nationals who left the country in the year ending December 2024, compared with the previous estimate of just 77,000.
The numbers were revised on Tuesday after the Office for National Statistics (ONS) updated its methodology.
Net migration - the difference between the number of people moving long-term to the UK and the number leaving the country - was previously based on the International Passenger Survey, but this had been "stretched beyond its original purpose" and used a small sample size so is no longer considered a reliable measure, the ONS said.
The estimates are now produced using more robust and comprehensive data from the Department for Work and Pensions, which incorporates everyone with a National Insurance number and which can be used to determine the likely migration status of UK individuals.
The estimated number of British nationals who returned to the UK was also revised up for last year with the ONS now estimating that 143,000 people immigrated, compared to 60,000 estimated under previous methods.
The exodus is part of a “historic wave of wealth migration”, with other countries competing with the UK for capital, according to the Henley Private Wealth Migration Report.
Retired footballer Rio Ferdinand quit the UK for Dubai, suggesting the move was because of rising taxes and failing public services.
The former Manchester United and England star left Britain in August.
He told LBC earlier this month: “There’s things that are falling apart and going wrong in the country, then I sit there and go, we pay towards tax and is it really going towards the things that are actually benefiting the people that live here?
“And that’s the big question that needs answering. I think a lot of us know the answer to that.”
The boss of £2.5 billion tech firm Improbable, Herman Narula, told the Telegraph he was preparing to emigrate from the UK to the UAE amid a planned levy intended to stop the wealthy from avoiding paying taxes by shifting their wealth to a low-tax jurisdiction.
Others who have left reportedly include Goldman Sachs supremo Richard Gnodde and Revolut co-founder Nik Storonsky.
Net migration to the UK in recent years peaked at a slightly higher level than initially estimated and has since fallen more sharply, according to the new figures.
They suggest net migration hit a higher and slightly earlier peak of 944,000 in the year ending March 2023, compared with the previous estimate of 906,000 for the year ending June 2023.
This was followed by a sharper fall than initially reported, with net migration in the year ending December 2024 now estimated to be 345,000, lower than original estimate of 431,000 that was published by the ONS in May of this year.
Mary Gregory, director of population statistics at the ONS, the body has been exploring different data sources to overhaul its estimates, after the Census 2021 showed the International Passenger Survey was underestimating the number of British people abroad.
"Understanding the long-term international migration patterns of British nationals has been, and always will be, challenging due to the sheer number of British people crossing the border on a daily basis," she said.
"Very few of these will be migrants and British people don't need a visa to travel to the UK so we cannot use HOBI data to estimate migration of British nationals.
"Based on these new data and methods, it is clear the IPS continued to underestimate British emigration since 2021, and it also underestimated immigration."
