At a startling rate, international capitalists are drawn to Dubai, a glitzy destination for those seeking wealth worldwide. A recent report by Henley & Partners claims that there are now 81,200 millionaires in Dubai. Twenty of them are billionaires, and 237 of them are centi-millionaires, with assets exceeding $100 million. These numbers demonstrate how Dubai has become one of the major centers of wealth in the world.
Dubai climbed three notches to be ranked 18th among the world’s wealthiest cities in the 2025 report. From 2014 until 2024, the millionaire population of the city increased by 102%, putting it in the company of Chinese cities such as Shenzhen (142%) and Hangzhou (108%), and ahead of the San Francisco Bay Area.
Dubai is set to become one of the fastest-growing centers of capitalism globally. It is said that the number of millionaires in the city will be more than quadruple by 2035. The zero taxes on income and capital gains are considered a major lure for global investors.
Dominic Volek, Head of Private Clients at Henley & Partners, says:
“Millionaires are selecting new geographic locations with the same precision they apply to designing their investment portfolios. Investment migration routes offer them and their families systematic access to these emerging regions.”
Although Dubai continues to grow, New York, with its 384,500 millionaire population, still manages to hold the top ranking. The San Francisco Bay Area with 342,400 millionaires comes in second place, whereas Tokyo goes third with 292,300 millionaires. Singapore, Los Angeles, and Hong Kong are also within the top 10. Quite the opposite, London and Moscow stand out as the only big cities with a shrinking population of the wealthy in the past ten years.
Shenzhen, considered China’s leading technology hub with giants such as Huawei, BYD and DJI, has seen its wealthy class expand rapidly, placing it among the world’s leading technology and wealth centers.
Monaco ranks at the very top with an average price of $38,800 per square meter. Also bearing this distinction are New York, with $27,500; Hong Kong, with $26,300; and London, with $24,000.
The increasing number of millionaires in Dubai indicates both economic change within the emirate and promising investment opportunities across the Middle East region. The combination of appealing tax regulations and investment-friendly policies with residency-by-investment options makes Dubai a preferred location for wealthy individuals and entrepreneurs from around the world. Every investor from Dubai’s richest people to new market entrants seeks to benefit from the city’s extraordinary business potential. If you want to invest, grow financially or move strategically you should consider Dubai as your top choice.
Source: https://www.propertynews.ae
