I'll never do that again. It happened shortly after ditching social media and I just about all of my contact info and I haven't been in touch with some old friends because of that since then.
Even if you had the time to transfer your contacts, etc, something will inevitably get missed.
Hell, I've updated family and friends to an email address I've been using for closer to a decade and they still email the old one...
A good chunk of people will probably communicate mostly on platforms like WhatsApp/Telegram/Discord/whatever that don't need numbers at all or facilitate switching of numbers without your contacts having to do anything. I don't think that will constitute anywhere near the majority of people across the world though, switching numbers will definitely be a pain for most.