Dubai, one of the glitzy cities of the UAE, is known for its record-breaking attractions. More than 200 different nationalities call the city home, and it provides every visitor with an amazing experience. In fact, Dubai is now one of the richest cities in the world, with 72,500 millionaires.
Dubai Is One Of The World’s Richest Cities & Home To Millionaires!
The Middle East’s highest concentration of millionaires now resides in Dubai! Henley & Partners reports that over 72,500 millionaires currently reside in Dubai. According to an analysis, with 22,500 millionaires living in the capital, Abu Dhabi has the second-highest concentration of millionaires in the Middle East, after Dubai.
Returning to Dubai, 212 people with a net worth of $1 million or more are classified as centi-millionaires, or those with a net worth of $100 million or more. Henley & Partners claims that 15 billionaires reside in the city, bringing the total value into the millions. Also, the report uses the global information source New World Wealth and follows global trends in investment migration and private wealth to produce this report. Abu Dhabi has witnessed a 75% increase in millionaire residents over the last ten years, while Dubai has had a 78% increase in millionaire people. Over the past ten years, the number of millionaires in Sharjah, an adjacent city, has climbed by 95% to 4,100.
Riyadh Houses 8 Billionaires!
In addition, the number of millionaires in the Saudi cities of Jeddah and Riyadh has grown when considering the entire region. There are currently 18,200 millionaires, 67 centi-millionaires, and 8 billionaires living in Riyadh, a 40 per cent increase over the previous ten years. According to the research, Jeddah is home to 7,500 millionaires, 32 centi-millionaires, and 8 billionaires.
Though Dubai is presently rated 21st, there is still a long way to go before it is among the top 10 cities in terms of the number of millionaires living there. With 349,500 millionaires residing there, New York is the wealthiest city in the world. Singapore has 244,800, Tokyo has 298,300, and the San Francisco Bay Area has 305,700.
Also Read: 5 Best Fashion Pop-Ups In Dubai For Trendsetting Styles And Exclusive Finds
In fact, London rounds out the top five with 227,000.
Cover Image Courtesy: Canva
For more such snackable content, interesting discoveries and the latest updates on food, travel and experiences in your city, download the Curly Tales App. Download HERE.