A recent study unveils a striking revelation: Dubai, already a beacon of opulence, now hosts a remarkable 72,500 millionaires. With this astonishing rise, the city eclipses others in the Middle East, becoming an irresistible magnet for high-net-worth individuals.
In the past decade, Dubai’s millionaire population has surged by an impressive 78%. This meteoric rise has positioned the city among the world’s top 50 millionaire havens. Alongside these affluent residents, 15 billionaires also call Dubai home, solidifying its place as the Middle Eastern leader in wealth concentration.
The city’s population stands at about 3.69 million, meaning roughly 2% of its residents are millionaires. This significant wealth concentration accentuates Dubai’s allure for the world’s affluent, establishing it as a prime destination for prosperity and luxury living.
According to insights from Henley & Partners, Dubai shines brightly on the list of top cities attracting wealth. In contrast, Abu Dhabi follows as the second Middle Eastern city of choice for the wealthy, with 22,500 high-net-worth individuals residing there.
Globally, while New York City leads with 349,500 millionaires, closely followed by The Bay Area and Tokyo, Dubai’s rise in the global ranking is noteworthy. Singapore and London also feature prominently in this list, hosting significant affluent populations.
These statistics, updated as of December 2023, provide a vivid snapshot of where the world’s wealth is currently concentrated. Dubai’s emergence as a front-runner among top cities for millionaires emphasizes its growing status as a global financial hub.
As Dubai continues to attract wealth from across the globe, its reputation as a haven for the affluent only solidifies further. This burgeoning community of millionaires underscores the city’s role as a thriving epicenter for luxury and prosperity, beckoning ambitious individuals worldwide to join its ranks.
