For The 3rd Consecutive Year, UAE Has Retained Its Position As Wealth Magnet

UAE Tops the Charts in attracting global millionaires in 2024.

by Deeplata Garde
For The 3rd Consecutive Year,  UAE Has Retained Its Position As Wealth Magnet

In a financial forecast that reads like a who’s who of wealth migration, the United Arab Emirates (UAE) has clinched the top spot yet again. According to the latest Henley Private Wealth Migration Report, the UAE is set to cement its status as the world’s premier destination for millionaires for the third consecutive year.

UAE’s Magnetic Pull For Wealthy Expats

The UAE is gearing up to welcome an impressive 6,700 millionaires from across the globe by the end of 2024, as reported by CNBC. This influx positions the Gulf nation well ahead of its closest contender, the United States, which is expected to attract 3,800 millionaires during the same period.

Global Wealth Migration Trends

uae holidays for 2025
Credits: Canva

Henley’s report doesn’t just stop at predictions; it’s a glimpse into the future of global wealth dynamics. With a projected total of 128,000 millionaires relocating worldwide in 2024—a significant increase from the previous year—the report underscores a profound shift in global wealth distribution.

UAE, A Hub of Opportunity

uae visa on arrival indian citizens
Credits: Canva

What makes the UAE such a hotspot for high-net-worth individuals? It’s a combination of strategic advantages: favourable tax policies, a prime geographical location bridging East and West, and state-of-the-art infrastructure. Finally, adding to the allure of the UAE’s “golden visa,” offering long-term residency to investors, entrepreneurs, and specialists, it’s easy to see why the country is a magnet for global talent.

Migration into the UAE is on the rise, driven by individuals seeking new opportunities beyond traditional financial hubs. Departures from the Middle East, India, Russia, and Africa are prominent. Also, it takes growing interest from the United Kingdom and Europe marking a recent trend.

Top 10 Countries Expecting Highest Net Inflows of Millionaires in 2024:

United Arab Emirates: +6,700
United States of America: +3,800
Singapore: +3,500
Canada: +3,200
Australia: +2,500
Italy: +2,200
Switzerland: +1,500
Greece: +1,200
Portugal: +800
Japan: +400

Overall, with each passing year, the country solidifies its position as a top choice for those looking to secure their future.

Cover Image Courtesy: Canva Stock Images

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