Dubai is getting richer rapid. The number of millionaires in Dubai has more than doubled in the past ten years. This is according to the Henley & Partners World’s Wealthiest Cities Report 2025.
The report says that Dubai is now home to 81,200 millionaires. This includes 237 people who have more than 100 million dollars to invest and 20 billionaires. Between 2014 and 2024, the number of millionaires in Dubai grew by 102 per cent. This means that Dubai has moved up the list of the world’s 50 wealthiest cities. It is now in place.
The report says that Dubai is a place for investors. This is because Dubai does not have income tax or capital gains tax. It also has laws and regulations. It is becoming a big hub for business and finance.
Henley & Partners thinks that Dubai and Abu Dhabi will have more centi-millionaires in the next ten years. This will make the UAE one of the growing places for very rich people.
The UAE is doing well because it has rules that’re good for investors. It also has programs that help people become residents if they invest money. It has policies that attract money and entrepreneurs from around the world.
If we look at the world, New York has the most millionaires. It has 384,500 millionaires. The San Francisco Bay Area is in second place with 342,400 millionaires. It even has more billionaires than New York.
Tokyo is in place, followed by Singapore. Los Angeles is now in place. This is because London has moved down to place. London and Moscow are the cities in the top 50 that have fewer millionaires now than they did ten years ago.
Looking ahead to 2035, Henley & Partners thinks that Dubai, Abu Dhabi and some other cities in Asia and Europe will have more centi-millionaires. This is because rich people are moving around the world more and more. They want to live in cities that are good for investing, have strong laws and a high quality of life. Dubai and the UAE will keep growing and becoming richer. The number of millionaires in Dubai will keep going up.
