A new forecast from Henley & Partners projects that the number of centi-millionaires — individuals with $100 million or more in investable assets — will soar in Gulf cities such as Dubai, Abu Dhabi and Riyadh. These cities have become the preferred destinations for the ultra-wealthy, driven by investor-friendly migration policies and open business environments. The report forecasts a 150% increase in centi-millionaire populations across these cities by 2040, outpacing growth in most established global markets.
Gulf Cities Emerge as Global Wealth Hotspots
There are currently 29,350 centi-millionaires worldwide, with the United States and China leading the rankings. However, Gulf cities are rapidly emerging as frontrunners, benefiting from structural economic reforms and a sustained push to attract high-net-worth investors.
Dubai alone has seen its millionaire population surge 78% in a single year, cementing the emirate's status as one of the most important hubs in the global wealth market. Dubai currently ranks 15th globally with 212 centi-millionaires, while Abu Dhabi holds 68 and Riyadh 67. Henley & Partners identifies all three as "centi city hotspots" — alongside Hangzhou, Shenzhen, Taipei, and Bengaluru — forecast to see more than 150% growth in ultra-wealthy residents over the next 16 years.
Europe Falls Behind as the Gulf Accelerates
Europe's centi-millionaire count has grown by just 26% over the past decade, a stark contrast to the Gulf's projected trajectory. The divergence underscores a broader global wealth shift, with capital and talent increasingly gravitating toward markets that offer lower taxes, streamlined residency pathways, and business-friendly regulation.
Riyadh and Bengaluru are also projected to record more than 150% growth in their ultra-wealthy populations — a trend consistent with the wider movement of high-net-worth individuals away from traditional Western financial centres.
Wealth Concentration Expected to Drive Broader Growth
More than 60% of centi-millionaires globally are company founders rather than heirs or financial professionals. That entrepreneurial concentration means the anticipated Gulf wealth surge is likely to generate significant downstream benefits — new businesses, employment opportunities, and investment flows into regional economies.
The emergence of a large, concentrated centi-millionaire class in Middle Eastern cities is expected to have a far-reaching influence on international economic and political dynamics over coming decades, reshaping patterns of wealth redistribution and population mobility on a global scale.
