Dubai now among 20 wealthiest global cities

UNITED ARAB EMIRATES: Dubai has officially entered the ranks of the world’s top 20 cities for wealth, now home to 81,200 millionaires, including 237 centi-millionaires (those with wealth exceeding $100 million) and 20 billionaires.

According to the ‘World’s Wealthiest Cities Report 2024’ issued by Henley & Partners in collaboration with New World Wealth, Dubai climbed three spots, ranking 18th globally in terms of the number of wealthy people residing in the city.

The report highlights Dubai’s continued rise as a leading global hub for investment, business, and high-net-worth individuals, cementing its status as a premier destination for wealth and prosperity.

Dubai also toped Arab cities in wealth rankings, becoming one of the fastest-growing cities globally for millionaires. It has secured the top place in the Arab world and climbed from 21st to 18th place globally on the list of the world’s wealthiest cities for 2025, according to the latest report.

Over the past decade, the city recorded an impressive 102 per cent growth in the number of millionaires, making it the third-fastest growing city in the world for high net-worth individuals (HNWIs), trailing only Shenzhen and Hangzhou.

The report revealed that Dubai attracted 8,700 new millionaires, who only, increasing the total number of HNWIs in the city to 81,200 by the end of 2024, up from 72,500 in 2023.