Over the past decade, Dubai has undergone a remarkable transformation, firmly establishing itself as one of the world’s most desirable destinations for HNWIs, investors, and global business leaders. Once a regional center of trade and tourism, Dubai has now secured its place among the most elite global cities for wealth and prosperity.
According to the report 2024 Dubai is currently home to 81,200 millionaires, including 237 centi-millionaires (individuals with wealth exceeding $100 million) and 20 billionaires. This significant concentration of wealth has propelled Dubai to 18th position on the list of the world’s wealthiest cities an impressive jump of three places from the previous year.
The report reveals a remarkable 102% growth in Dubai’s millionaire population over the past decade, positioning the city as the third-fastest-growing hub for high-net-worth individuals globally surpassed only by Shenzhen and Hangzhou in China.
In 2024 alone, Dubai added 8,700 new millionaires, with the total rising from 72,500 in 2023 to 81,200 by the end of the year. This sharp increase highlights Dubai’s sustained international appeal and its strategic role as a global centre for business, innovation, and luxury lifestyle.
What’s driving this wealth surge?
Several key factors contribute to this extraordinary growth. The UAE offers a unique combination of strategic geographic location, political stability, advanced infrastructure, investor-friendly regulations, and a tax-efficient environment.
Looking ahead, the trajectory of growth shows no signs of slowing. The report projects that by 2034, the number of individuals with net worths exceeding $100 million in Dubai and Abu Dhabi will double. This forecast not only reflects the cities’ rising prominence but also points to a broader transformation taking place across the Middle East one that is reshaping the region’s economic, financial, and investment landscape.
The Road Ahead
Dubai’s future as a global wealth capital is being shaped by its visionary leadership, progressive reforms, and commitment to long-term economic planning. The emirate’s emphasis on innovation, inclusivity, and strategic development continues to attract top-tier talent, entrepreneurs, and global investors.
This transformation is no longer just about luxury or ambition. It is a story of opportunity, resilience, and strategic wealth creation where Dubai emerges not merely as a city of the future, but as a leader on the world stage.
One Investments remains dedicated to advancing initiatives that reinforce Dubai’s position as a premier global destination. With a clear focus on long-term capital growth, we offers strategic expertise designed to help investors effectively navigate and seize opportunities within the emirate’s ever-evolving investment landscape.
Are you ready to secure your place in Dubai’s dynamic investment landscape? Give us a call today!
