Dubai continues its ascent as a global wealth destination, drawing 81,000 millionaires, 237 centi-millionaires, and 20 billionaires according to the World's Wealthiest Cities Report 2025 by Henley & Partners and New World Wealth.
Dubai's Millionaire Population Reaches Record High
The report confirms Dubai now ranks 18th among the world's top cities for resident millionaires — up from 21st the prior year — cementing its place as one of the fastest-rising wealth hubs on the planet.
Dubai experienced a remarkable 102% increase in its millionaire numbers from 2014 to 2024, placing it among only three cities globally to outpace the Bay Area's growth rate. The other two are Shenzhen (142%) and Hangzhou (108%).
What Is Driving Dubai's Wealth Migration
The city's appeal is rooted in its tax-free environment, strategic location between East and West, and a business-friendly infrastructure designed to attract international investors and entrepreneurs.
"Private clients now choose their home city with the same care they apply to investment decisions," said Dominic Volek, Group Head of Private Clients at Henley & Partners. "Dubai offers the security and prosperity that globally mobile wealth is seeking."
Centi-Millionaires Set to Double by 2035
Dubai's current count of 237 centi-millionaires is projected to grow by 100% before 2035, the fastest growth forecast of any city in the report.
That trajectory puts Dubai well ahead of legacy financial centres. By comparison, New York leads global rankings with 384,500 resident millionaires, while the Bay Area holds second place with 342,400. Of the top 50 cities tracked, only London and Moscow saw their millionaire populations decline over the past decade.
Abu Dhabi and the Broader Gulf Trend
The rise of Dubai is part of a wider regional shift. Abu Dhabi is also listed among the fastest-growing wealth centres expected over the next decade, reinforcing the UAE's position as the Gulf's premier destination for high-net-worth individuals.
Why Dubai's Wealth Growth Matters
With superior financial infrastructure, economic diversification, and luxury living standards, Dubai is on course to further expand its share of global wealth — underscoring its transformation from a regional trade hub into a worldwide financial powerhouse.
