Dubai continues to establish itself as one of the world’s most attractive economic and financial centres. In 2025, the emirate will reach another symbolic milestone: There are now more than 81,000 millionaires living in Dubai, including 237 centi-millionaires (with a fortune of over 100 million dollars) and 20 billionaires. An impressive achievement that puts the city ranked 18th in the world among the wealthiest cities, ahead of historic cities such as Rome, Madrid and Toronto.
Rapid growth over the past ten years
Between 2014 and 2024, the number of millionaires in Dubai has doubled, showing spectacular growth of +102 %. This surge places the city among the top three fastest-growing cities in the world in terms of private wealth, alongside Shenzhen and Hangzhou. This development is no coincidence, but the result of a a carefully considered economic strategy, driven by the vision of the Emirati leaders.
The emirate quickly transformed into a a haven for the world’s wealthiest, attracted by a dynamic economic climate, a favourable tax regime, a high quality of life and remarkable political stability.
Why are millionaires flocking to Dubai?
Dubai’s appeal to the ultra-wealthy is based on several solid pillars :
- An attractive tax environment : the absence of income tax, property tax and capital gains tax creates an investment climate that is unique in the world.
- Political and security stability : rare in the region, it offers international investors a guarantee of long-term confidence.
- World-class infrastructure : state-of-the-art airports, an efficient road network, and renowned hospitals and international schools all contribute to the quality of life.
- A strategy for attracting talent and investors : thanks to programmes such as the Golden Visa, wealthy foreigners can settle permanently in Dubai whilst benefiting from a flexible legal framework.
- A cosmopolitan and luxurious lifestyle : With its luxury shopping, Michelin-starred dining, private beaches, contemporary art and avant-garde culture, Dubai attracts the world’s elite.
An even brighter future
The current momentum shows no signs of slowing down. Forecasts predict a a doubling of the number of centi-millionaires by 2035, buoyed by the steady inflow of foreign capital, international talent and families seeking stability.
The high-end property sector, Islamic finance, new technologies and luxury tourism are the cornerstones of an ever-growing ecosystem. Dubai is no longer content to be merely a place for second homes or a holiday destination; it is becoming a a true hub of social and business life for the ultra-rich.
Dubai: a regional capital with global ambitions
Whilst many of the world’s major cities are facing economic, security or social challenges, Dubai continues to offer a a model of harmonious and controlled growth. Its ability to anticipate global economic changes, to embrace technological innovations and to foster a business-friendly environment makes it a high-net-worth magnet.
With more than 81,000 millionaires within its borders, Dubai confirms that it is now Much more than just a regional hub: it is a global capital of wealth, luxury and entrepreneurship. For investors and decision-makers alike, the city is now one of the safest, most dynamic and most profitable places in the world.
Would you like a shorter version of this article for a newsletter or social media?
