Dubai: Famous for its iconic skyscrapers and luxurious lifestyle, Dubai is now making his mark as a global wealth magnet.
In the last decade, the city has seen a significant increase in the number of millionaires choosing to call it home.
According to a report by the Global Research firm New World Wealth, Dubai has emerged as one of the fastest growing wealth hubs worldwide.
The report shows that the number of millionaires in Dubai has increased by 102% impressive in the last ten years.
In 2024, the city was 81,200 millionaires, 237 centimeters and 20 billionaires and 20 billion homes compared to 2014, when the number was 40,000 millionaires, 212 centimeters and 15 billionaires.
The report defines a centimeter as a person whose total assets are at least $ 100 million. The analysis of the New World Wealth states: “Dubai’s low tax policies, safe environment and strong economy are attracting rich individuals around the world. It has become an ideal place to start and invest businesses.”
The report also states that Dubai’s modern infrastructure, high quality healthcare, top-oriented education and leisure features make it an attractive destination for rich.
In contrast, London has seen a decline in the number of millionaires. In 2024, 11,300 millionaires left the city, quoted as a major reason with Britain’s new tax policies.
New World Wealth noted: “While London and UK are removing money with high taxes, Dubai is taking an opposite approach.”
Experts estimate that more British individuals and businesses will move to Dubai in the coming years, carrying forward their position as a global wealth hub.
