For the first time in at least 50 years, more people left the U.S. than moved in, according to new research from the Brookings Institution. A growing number of Americans are now paying $500 to $1,000 a ticket to figure out how to be next.
The market for "how to leave the country" is its own little industry now.
The Brookings Institution estimates the U.S. had a net negative migration of between 10,000 and 295,000 people in 2025, with voluntary departures alone estimated at 210,000 to 405,000.
Restrictive immigration policy and deportation efforts are part of the story, but a wave of U.S. citizens are also leaving for school, work, family, retirement and politics.
Some are looking for a lower cost of living, while others want to keep their dollars stretching further into retirement abroad in places with cheaper healthcare and housing.
Big demographic shifts move markets in ways most investors miss. Market Briefs connects the dots every morning, and a free investing masterclass comes along with it.
Expatsi, a relocation tour company launched in 2022, just held its second annual Move Abroad Con in San Diego, where about 600 people showed up - double last year's turnout. Think of it as a TED conference for people seriously considering a new passport.
Tickets ran $500 to $1,000, and attendees filtered through sessions on visas, foreign taxes, immigrant health insurance, and how to land in spots like Portugal, Mexico, Canada and New Zealand.
According to a sample of 218 attendees collected by co-founder Jen Barnett, 89% said politics was a top reason for wanting to leave, while 73% cited adventure and growth and 57% said they wanted to save money.
Their average monthly budget abroad came in at $3,856, and roughly two-thirds want to move within two years.
Moving abroad isn't cheap up front, with visa paperwork running a few hundred dollars and transportation and shipping running into the tens of thousands.
One Chicago couple profiled by CNBC saved more than $20,000 over 10 months to relocate to Valencia, Spain, in the spring of 2025.
For investors, the macro picture matters most. More people physically leaving the country changes the math for housing demand, wage growth and consumer spending over time, none of which shows up in one Brookings report.
But 600 paying attendees at a single conference does say something.
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