Dubai has officially joined the ranks of the world’s top 20 wealthiest cities, with its millionaire population surpassing 81,000, according to the 2025 edition of the World’s Wealthiest Cities Report published by Henley & Partners in collaboration with New World Wealth. This figure includes 237 centi-millionaires (individuals with net assets of USD 100 million or more) and 20 billionaires, cementing Dubai’s position as a leading global hub for high-net-worth individuals (HNWIs).
The city now ranks 18th globally in terms of resident millionaires, marking an extraordinary 102% increase over the past decade. This surge is attributed to Dubai’s sustained economic diversification, investor-friendly policies, and strategic initiatives designed to attract international capital and talent.
The city’s rapid ascent in global wealth rankings is attributed to several key factors:
- Strategic Economic Initiatives: Dubai’s ambitious economic agenda, including the Dubai Economic Agenda ‘D33’, aims to double the city’s economy by 2030, enhancing its appeal to investors and entrepreneurs .
- Favorable Tax Environment: The absence of income and capital gains taxes in the UAE continues to attract high-net-worth individuals seeking tax-efficient jurisdictions.
- Robust Infrastructure and Quality of Life: World-class infrastructure, a high standard of living, and political stability make Dubai an attractive destination for wealth accumulation and preservation .
In 2024 alone, Dubai added 8,700 new millionaires, up from 72,500 in 2023, highlighting the city’s sustained international appeal and strategic role as a global center for business and luxury lifestyle.
Looking ahead, projections suggest that Dubai’s population of centi-millionaires will more than double over the next decade, further cementing its position as a leading global financial center.
As Dubai continues to attract wealth and talent from around the world, its influence on global economic trends and investment patterns is expected to grow, reinforcing its status as a premier destination for high-net-worth individuals.
