Dubai Ranked Among the World’s Top 20 Wealthiest Cities

According to the study, the city is now home to 81,200 millionaires, 237 centi-millionaires (individuals with wealth over $100 million), and 20 billionaires. It ranks first among Arab cities and continues to attract high-net-worth individuals at a rapid pace.

Since 2023, Dubai has climbed three spots in the global wealth rankings, driven by a strong influx of new residents. In 2024 alone, 8,700 new millionaires relocated to the emirate – the third-highest increase worldwide, following Shenzhen and Hangzhou in China. Over the past decade, the number of millionaires in Dubai has surged by 102%, supported by favourable tax policies, investor-friendly regulations, and robust infrastructure.

Abu Dhabi is also on the rise, with 17,800 millionaires now living in the capital – an 80% increase over the past 10 years. The city is home to 75 centi-millionaires and 8 billionaires. Both cities are expected to see the number of ultra-wealthy residents double by 2034, as the UAE continues to strengthen its position as a global hub for investment, business, and wealth migration.