Henley Report ranks Dubai as the world’s fastest-growing hub for wealthy individuals.
Dubai has achieved the fastest rise in the global ranking of cities attracting high-net-worth individuals, with the emirate now home to 81,200 millionaires. This includes 237 centi-millionaires — individuals with investable wealth exceeding $100 million — and 20 billionaires, according to the Henley & Partners World’s Wealthiest Cities Report 2025.
The report revealed that Dubai’s millionaire population grew by 102% between 2014 and 2024, helping the city climb from 21st to 18th place among the world’s 50 wealthiest cities, as reported by Al Bayan newspaper.
The significant growth highlights Dubai’s increasing appeal as a global wealth hub, driven by investor-friendly policies, no personal income or capital gains taxes, and its expanding position as an international financial centre.
The report forecasts that Dubai and Abu Dhabi will more than double their centi-millionaire populations over the next decade, positioning the UAE among the world’s fastest-growing destinations for ultra-high-net-worth individuals.
It highlights the country’s strategic efforts to attract global wealth through investor-friendly regulations, robust legal frameworks, and residency-by-investment programmes as key drivers behind this growth.
Globally, New York maintained its status as the world’s wealthiest city, with 384,500 millionaires, while the San Francisco Bay Area ranked second with 342,400 millionaires and surpassed New York in terms of billionaire numbers.
Tokyo secured third place, followed by Singapore, while Los Angeles climbed to fifth position as London dropped to sixth. London and Moscow were the only cities among the global top 50 to experience a decline in millionaire populations over the past decade.
Henley & Partners noted that global wealth is becoming increasingly mobile, with high-net-worth individuals increasingly choosing cities that offer investment opportunities, legal stability, and a high quality of life. Looking ahead to 2035, the report predicts that Dubai, Abu Dhabi, and other emerging wealth centres across Asia and Europe will see their centi-millionaire populations grow by more than 100 per cent.
