Dubai Leads Global Surge in Millionaire Growth

Jul 24, 2026

71 min

Jul 24, 2026 13:31

Dubai records fastest rise in millionaire rankings worldwide

## Dubai's Rapid Rise in Wealth Rankings

Dubai has achieved the fastest growth in millionaire numbers globally, according to the Henley & Partners World's Wealthiest Cities Report 2025. The city now hosts 81,200 millionaires, including 237 centi-millionaires and 20 billionaires. This marks a 102% increase in its millionaire population from 2014 to 2024, elevating Dubai from 21st to 18th place among the world's top 50 wealthiest cities.

## Factors Driving the Growth

Dubai's rise as a global wealth hub is attributed to its investor-friendly environment, including zero personal income and capital gains taxes, and its status as an international financial center. The UAE's strategic focus on attracting global capital through favorable regulations and residency-by-investment programs has further bolstered this growth.

## Future Projections

The report anticipates that Dubai and Abu Dhabi will continue to see significant increases in their centi-millionaire populations over the next decade. This trend positions the UAE as one of the fastest-growing destinations for ultra-high-net-worth individuals.

## Global Context

Globally, New York remains the wealthiest city with 384,500 millionaires, followed by the San Francisco Bay Area. Tokyo, Singapore, and Los Angeles also rank among the top five. Notably, London and Moscow are the only cities in the top 50 to experience a decline in millionaire numbers over the past decade. The report highlights the increasing mobility of global wealth, with affluent individuals gravitating towards cities offering investment freedom and lifestyle benefits.

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