UAE millionaire numbers climbed 3.5% as wealth increased across all income groups.
Dubai: Nearly one million new millionaires were created globally in 2025, as personal wealth grew at its fastest pace in years, pushing more people into higher wealth brackets, according to UBS’ Global Wealth Report 2026.
The world’s millionaire population rose by 1.5% last year, with more than 2,680 new dollar millionaires created every day. The US accounted for nearly half of this growth, with over 440,000 people joining the millionaire ranks in 2025.
The UAE also saw an increase in millionaires, with UBS reporting that the country is now home to 183,000 dollar millionaires, a 3.5% rise from 2024. Saudi Arabia has around 348,000 dollar millionaires, up 2.6% over the same period.
UAE wealth grows across brackets
The UAE recorded one of the strongest wealth increases among 56 markets tracked by UBS between 2020 and 2025.
Average wealth per adult in the UAE rose by nearly 25% during the period, while median wealth increased by more than 40%. UBS said this indicates broad-based wealth growth across income groups, with particularly strong gains at the higher end.
The data points to a deeper wealth base in the UAE, supported by asset appreciation, capital inflows, business formation, and a growing high-income population. The rise in median wealth is especially notable, as it suggests improvements were not confined to the wealthiest households.
Saudi Arabia also posted steady wealth growth over the decade. Average wealth per adult increased by nearly 4% in real terms after inflation, while median wealth rose by 4.9%, indicating more evenly distributed gains.
Low debt supports Gulf households
UBS noted that both the UAE and Saudi Arabia stand out for their low household debt levels, which are just about 6% of gross wealth—among the lowest across the markets studied.
Financial assets make up around 59% of gross wealth in both countries, reflecting a similar pattern in how households allocate their wealth.
This results in relatively strong household balance sheets across the Gulf, compared with markets where higher debt levels act as a greater constraint on wealth creation.
Global wealth jumps 10.8%
Globally, total personal wealth rose by 10.8% in 2025 in US dollar terms—more than double the growth seen in both 2024 and 2023.
UBS said the increase was driven by strong financial markets and a rise in non-financial assets, pointing to a broad improvement in living standards.
However, the gains were unevenly distributed. While average wealth increased significantly, median wealth declined in most markets, widening the gap between the wealthiest households and the wider population.
Regionally, Europe, the Middle East and Africa recorded the strongest wealth growth in 2025, with a rise of nearly 18%. Western Europe grew by almost 17%, while Eastern Europe surged by 28%.
Asia-Pacific lagged behind with growth of just over 5.9%, although it remains a key hub for high-net-worth individuals, particularly in Greater China and Southeast Asia.
US still dominates millionaire ranks
The United States remains the world’s largest millionaire market, with UBS estimating more than 23.6 million dollar millionaires living in the country—over 40% of the total in its sample.
Western Europe has just under 15 million millionaires, around a quarter of the global total, while Asia-Pacific has a similar number. The region is led by mainland China with more than 5.3 million millionaires and Japan with close to 3 million.
North America and Western Europe together account for more than 70% of the world’s millionaires. When North America is combined with Greater China, the two regions make up more than 56% of global millionaire wealth.
Eastern Europe recorded the fastest percentage growth in millionaires, with Lithuania leading at an 8% increase, followed by Türkiye, Latvia, and Hungary, each growing by more than 5%.
More people move up the wealth ladder
UBS said the global wealth pyramid is shifting, with fewer adults in the lowest wealth bracket and more moving into higher segments.
Around 1.5% of adults in the sample now have more than $1 million in wealth. The proportion of those with less than $10,000 continues to decline, while middle wealth brackets are expanding.
The report also highlights strong growth among individuals with more than $5 million in wealth—a group UBS describes as the next tier above “everyday millionaires.” Mainland China, Australia, and the US recorded particularly strong gains in this segment.
