Dubai has become one of the fastest-growing cities in the world for wealthy people. According to a 2024 report by New World Wealth, the number of millionaires in Dubai has more than doubled in the past 10 years. In 2014, there were around 40,000 millionaires living in the city.
By 2024, this number has grown to 81,200. In addition, Dubai is now home to 237 centimillionaires (people with over $100 million) and 20 billionaires.
This sharp rise in wealthy residents is due to several key factors. Dubai offers investor-friendly policies, no income tax, and a high standard of living. These benefits make it an attractive place for businesspeople, investors, and entrepreneurs from around the world.
The city is known for being safe, having modern infrastructure, and providing excellent education and healthcare systems.
Another reason for the increase is that many rich people from the UK are moving to Dubai. In the UK, rising taxes are pushing wealthy individuals to look for better options. Dubai has become a top choice because it allows them to keep more of their earnings while enjoying a luxurious lifestyle.
Dubai’s growing status as a global business hub also plays a major role. It offers great opportunities in trade, real estate, technology, and finance. This continues to attract international investors and companies.
