Dubai Emerges as a Major Wealth Magnet
- According to the 2025 World’s Wealthiest Cities Report (by New World Wealth & Henley & Partners), Dubai now hosts 81,200 millionaires, up from 72,500 in 2023.
- It also boasts:
- 237 centi-millionaires (worth $100M+)
- 20 billionaires
- Over the past decade, Dubai saw a 102% rise in millionaires, trailing only Shenzhen (142%) and Hangzhou (108%).
London’s Decline in the Global Wealth Rankings
- London lost 11,300 millionaires in 2024 alone.
- Over the past 10 years, there’s been a 12% decline in London’s millionaire population.
- Only Moscow fared worse, with a 25% drop.
Why the Wealthy Are Choosing Dubai
Andrew Amoils (Head of Research at New World Wealth) highlights Dubai’s key attractions:
Contents
- No income or capital gains tax
- Safe, investor-friendly environment
- Business-friendly ecosystem
- First-class healthcare & education
- Global air connectivity (Emirates Airlines)
- Year-round leisure and luxury lifestyle
Why Millionaires Are Leaving the UK
Sam Bidwell (Adam Smith Institute) points to:
- High taxes
- Tougher business regulations
- Rising crime concerns
- Abolition of the “non-dom” tax regime, which once allowed global income tax exemptions for foreign residents
“The UK is driving away wealth. Dubai is doing the opposite.”
Global Wealth Migration Trends
- The UAE remains the #1 destination for millionaire migration.
- It attracts nearly twice as many wealthy individuals as the United States, the second most popular destination.
What Dh1 Million Gets You in Dubai Now
As Dubai’s population of the ultra-wealthy grows, so does demand for premium real estate. Property prices have soared, reshaping what Dh1 million (approx. $272,000) can buy in this high-demand market.
