Dubai has cemented its position as one of the wealthiest cities globally and the richest in the Middle East, witnessing a remarkable surge in its millionaire population over the past decade, according to the latest World’s Wealthiest Cities Report 2024 from Henley & Partners in collaboration with New World Wealth. The number of individuals with liquid investable wealth of $1 million or more in Dubai skyrocketed by 78% to reach 72,500 between 2013 and 2023.

Additionally, the city boasts 212 centi-millionaires, with fortunes exceeding $100 million, and is home to 15 billionaires. This positions Dubai as the 21st wealthiest city worldwide, surpassing prominent global hubs like Munich, Rome, and Vancouver in terms of millionaire population.The report suggests that Abu Dhabi, although not among the top 50 richest cities presently, exhibits significant growth potential, with growth rates exceeding 75%.