Dubai has witnessed a remarkable 102% increase in its millionaire population over the past decade, solidifying its status as a global wealth hub. According to a report by New World Wealth, the city is now home to 81,200 millionaires, 237 centimillionaires, and 20 billionaires, up from 40,000 millionaires, 212 centimillionaires, and 15 billionaires in 2014.

Factors Driving Wealth Influx

Several factors contribute to this significant growth:​

  • Favorable Tax Policies: Dubai’s low-tax environment attracts high-net-worth individuals seeking to maximize their wealth.​
  • Robust Economy: A strong and diversified economy provides ample investment opportunities.​
  • Modern Infrastructure: State-of-the-art facilities and services enhance the quality of life for residents.​
  • High-Quality Healthcare and Education: Top-tier services in these sectors make Dubai an appealing destination for families.​
  • Leisure and Lifestyle: A vibrant lifestyle with numerous leisure options adds to the city’s allure.​

Comparative Global Trends

While Dubai’s millionaire population is on the rise, other global cities are experiencing declines. For instance, London saw a net outflow of 11,300 millionaires in 2024, attributed to new tax policies.

Future Outlook

Experts anticipate continued growth in Dubai’s wealthy population, with more individuals and businesses relocating to the city in response to its favorable economic conditions.