Dubai has become one of the world’s top wealth hubs. It now ranks as the 4th wealthiest city in the EMEA region (Europe, Middle East, and Africa), just behind London, Paris, and Milan. The city is home to over 86,000 millionaires, 251 centi-millionaires, and 23 billionaires. If growth continues, Dubai is set to become the richest city in the region by 2040, according to reports.
Over the past decade, Dubai’s total investable wealth has surged by 110%, making it one of the top five fastest-growing cities in the world. This rise has been fueled by several key factors.
Safe-Haven Status
Dubai is part of New World Wealth’s “Safe Haven 8” and is considered the top safe haven in the Middle East. Its stability, security, and openness have attracted high-net-worth individuals (HNWIs) from around the globe. More than 35,000 HNWIs have moved to the UAE in the last decade alone.
Competitive Tax Environment
The UAE’s tax regime is one of the most attractive worldwide. With no capital gains tax and no income tax, Dubai has become an appealing destination for entrepreneurs, wealthy retirees, and global businesses.
Diversified Economy
Unlike other regional hubs, Dubai’s economy is not dependent on a single sector. It is strong across finance, real estate, technology, healthcare, retail, media, energy, and tourism, ensuring resilience and consistent growth.
Lifestyle and Connectivity
Relaxed cultural norms compared to its Gulf neighbors make Dubai more attractive to global investors and residents. Coupled with Emirates Airline’s extensive global network, the city serves as a convenient base connecting East and West.
Rising Property Market
Property prices in prime areas now average over $12,000 per square meter, placing Dubai alongside leading luxury destinations such as Cannes, St Tropez, and Milan.
Growth of Family Offices
Dubai has become the fastest-growing center for family offices in the world. By June 2025, the UAE had about 250 family offices, most of them started in recent years by wealthy people from Africa, India, Russia, the UK, and the Middle East.
A Fast-Growing Tech Hub
Technology is another big driver. Dubai already has 6,700 tech millionaires and 5 tech billionaires. Its strong tech infrastructure, safe-haven status, and no capital gains tax are attracting entrepreneurs in fintech, crypto, and software. Experts expect these numbers to double in the next ten years.
Looking Ahead
Dubai’s growth as a global wealth hub is still in its early stages. Backed by safety, favorable tax policies, a strong economy, it is expected to become the wealthiest city in the EMEA region by 2040 and one of the leading wealth capitals worldwide.
Investors looking to benefit from Dubai’s growth can arrange a consultation with experienced property advisors, who provide tailored guidance to identify the most suitable opportunities.
