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A new study reported that 72,500 millionaires live in Dubai, making the emirate the highest concentration of millionaires in the Middle East
10 May 2024
| Last updated on 10 May 2024
The number of millionaires living in Dubai has grown by 78% in the last decade.
The city has joined the top 50 cities for millionaires, with an estimated 72,500 millionaires and 15 billionaires calling the emirate home - the highest number in any city in the Middle East!
With a population of 3.69 million people as of 2024, that counts for about 2% of Dubai residents.
The new study from Henley and Partners reported the top 50 cities that are magnets for the wealthy.
The city of Dubai has the highest concentration of wealthy residents in the Middle East, followed Abu Dhabi at 22,500 high-net-worth people residing in the capital.
New York City (USA) ranked the highest with 349,500 millionaires, followed by The Bay Area (USA) and Tokyo (Japan) in first and second place. Singapore sees fourth place with 244,800 millionaires and London (UK) secured fifth place at 227,000 high-net-worth residents.
**The report statistics are latest as of December 2023.
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