Dubai Emerges as a Global Wealth Magnet with Over 81,000 Millionaires
Dubai has solidified its status as a premier global wealth hub, now home to 81,200 resident millionaires, including 237 centi-millionaires and 20 billionaires, according to the World’s Wealthiest Cities Report 2025 by Henley & Partners in collaboration with New World Wealth.
The emirate climbed three spots to secure 18th place globally, demonstrating its rapidly growing appeal to high-net-worth individuals (HNWIs) and ultra-wealthy elites.
A Decade of Remarkable Growth
Between 2014 and 2024, Dubai’s millionaire population surged by 102%, one of the highest growth rates globally. This puts Dubai in a league of its own, outpacing even the Bay Area’s growth and joining the ranks of China’s tech giants—Shenzhen (142%) and Hangzhou (108%).
Forecasts Point to Even Greater Wealth Inflow
Looking ahead, the report predicts that Dubai’s centi-millionaire population will more than double between 2025 and 2035. Together with Abu Dhabi, Dubai is expected to lead a new wave of wealth migration, particularly from regions seeking tax-friendly environments, stable political structures, and world-class infrastructure.
The UAE’s zero income and capital gains tax policies, coupled with its strategic geographic position, continue to attract global investors, entrepreneurs, and family offices.
Investment Migration: The New Wealth Strategy
Henley & Partners highlights a growing trend: today’s centi-millionaires are treating geography like a portfolio—diversifying their residences just like their assets. Investment migration programs, including residence-by-investment and golden visa schemes, offer seamless entry into dynamic economies like Dubai.
Global Comparison: How Dubai Stacks Up
Despite its impressive rise, New York still holds the top spot with 384,500 millionaires, followed by the Bay Area and Tokyo. However, with cities like London and Moscow witnessing a decline in millionaire populations, Dubai stands out as a city of opportunity, resilience, and ambition.
As global wealth shifts, Dubai is not just keeping pace—it’s setting the tone for the next generation of global wealth hubs.
