Dubai has strengthened its position as one of the world’s leading wealth destinations after being named the fastest-growing millionaire hub globally in the latest World’s Wealthiest Cities Report by Henley & Partners in partnership with New World Wealth.
The report highlights the emirate’s remarkable rise over the past decade, driven by strong economic growth, investor-friendly policies and its growing reputation as a global business centre.
Dubai’s Wealth Boom Continues
According to the report, Dubai is now home to 81,200 resident millionaires, including 237 centi-millionaires with assets exceeding $100 million and 20 billionaires.
The city’s millionaire population has increased by 102% over the past ten years, making Dubai the fastest-rising city in the global wealth rankings. This impressive growth has also helped the emirate climb from 21st to 18th place among the world’s wealthiest cities.
The findings underline Dubai’s growing appeal to entrepreneurs, investors and high-net-worth individuals seeking long-term opportunities in a stable and business-friendly environment.
Why Wealthy Individuals Are Choosing Dubai
Several factors continue to attract global wealth to Dubai. The UAE’s tax-friendly environment, long-term residency options such as the Golden Visa, world-class infrastructure and strategic location connecting Europe, Asia and Africa have made the city an increasingly attractive destination for international investors.
Dubai has also expanded its financial services sector in recent years, while family offices, investment firms and technology entrepreneurs continue to establish operations in the emirate. Together, these factors have reinforced its reputation as one of the world’s fastest-growing financial and investment hubs.
How Dubai Compares Globally
While New York remains the world’s wealthiest city with the highest number of millionaires, Dubai has recorded one of the strongest growth rates over the past decade.
Among the cities tracked in the report, only Shenzhen and Hangzhou in China posted faster millionaire growth over the same period. Dubai now ranks among the leading wealth centres across Europe, the Middle East and Africa and continues to be the top-ranked city for private wealth in the Arab world.
The report also notes that some traditional wealth hubs have experienced slower growth or declining millionaire populations, while Dubai has continued to attract affluent individuals relocating from different parts of the world.
Outlook Remains Positive
The report suggests Dubai’s momentum is expected to continue over the coming years. Forecasts indicate that both Dubai and Abu Dhabi could see their populations of centi-millionaires more than double by 2035, further strengthening the UAE’s position as a global destination for wealth, investment and innovation.
As international businesses and investors continue to expand into the region, Dubai’s growing influence on the global financial landscape shows little sign of slowing.