Rising Wealth Trends in the Middle East
Dubai emerges as the wealthiest city in the Middle East, boasting a staggering 72,500 millionaires, according to a recent report. Over the past decade, the city has witnessed a remarkable 78% surge in its millionaire population, highlighting its growing prominence in global wealth dynamics.
The report by New World Wealth and Henley & Partners delves into Dubai’s affluent landscape, revealing not only its impressive millionaire count but also its 15 billionaires and 212 centi-millionaires. This surge in wealth is indicative of Dubai’s position as a major player in the global economy.
Abu Dhabi, Dubai’s neighboring emirate, is also on the rise, with 22,700 millionaires paving the way for its ascent as a burgeoning wealth hub. Similarly, Sharjah and Riyadh have experienced substantial growth in their millionaire populations, reflecting the broader economic prosperity in the region.
The global wealth landscape showcases New York City at the forefront, with an astounding 349,500 millionaires. However, Dubai’s remarkable growth underscores the shifting tides of wealth distribution, positioning it prominently among the world’s richest cities.
As Dubai continues to attract investors and entrepreneurs, its status as the Middle East’s wealth epicenter seems poised for further consolidation in the years to come.