This study examines the relationship between international migration and economic wealth in advanced economies by adopting a multidimensional perspective. Unlike much of the existing literature, which primarily focuses on single indicators such as GDP or income per capita, this paper employs the Economic Wealth Index (EWI) to capture economic, social, and institutional dimensions of economic performance in a unified framework. Using panel data for G7 countries over the period 2000–2020, the analysis investigates whether international net migration is associated with changes in economic wealth. The EWI is constructed through Principal Component Analysis based on a set of economic, social, and institutional indicators. The empirical analysis is conducted using a fixed-effects panel regression model, with Driscoll–Kraay standard errors applied to address heteroskedasticity, serial correlation, and cross-sectional dependence. The findings indicate a positive and statistically significant relationship between international net migration and economic wealth in G7 economies. Specifically, increases in net migration are associated with higher EWI scores, suggesting that migration may contribute to the broader economic capacity of advanced countries beyond conventional growth measures. Overall, the results highlight the importance of evaluating the economic effects of migration through multidimensional indicators and suggest that, in advanced economies with relatively selective migration regimes, international migration can be linked to improvements in long-term economic wealth.