Home to 86,000 Millionaires, Dubai Ranks 4th Wealthiest City Across Europe, Middle East and Africa
Clear takeaway: Dubai has officially entered the top tier of global wealth hubs. With $1.1 trillion in liquid investable wealth and one of the fastest-growing millionaire populations worldwide, the emirate now ranks 4th wealthiest city across Europe, the Middle East and Africa (EMEA)—behind only London, Paris and Milan.
Dubai’s Wealth Numbers at a Glance
According to The Rise of Dubai study by New World Wealth, MCB Group, and Stewards Investment Capital, Dubai’s wealth profile as of June 2025 is striking:
- 86,000 millionaires
- 251 centi-millionaires (net worth $100m+)
- 23 billionaires
- $1.1 trillion in total liquid investable wealth
This places Dubai firmly among global elite cities and ahead of many long-established European financial centres.
How Dubai Compares Globally
In terms of high-net-worth individuals (HNWIs), Dubai now ranks fourth across the EMEA region:
- 212,000 millionaires
- 163,000 millionaires
- 121,000 millionaires
- 86,000 millionaires
If current trends continue, researchers project that Dubai could overtake these cities to become the wealthiest city in the EMEA region by 2040.
Why Dubai Keeps Attracting the Ultra-Wealthy
Researchers attribute Dubai’s wealth surge to a combination of structural and lifestyle advantages that few global cities can match:
- Zero personal income tax and business-friendly regulations
- Safe-haven status during geopolitical and economic uncertainty
- A highly diversified economy spanning real estate, finance, trade, tourism, and technology
- Strong global air connectivity enabling rapid access to Europe, Asia, and Africa
- Rising property values, especially in prime and ultra-luxury segments
- World-class healthcare, international education, and lifestyle infrastructure
Importantly, Dubai has positioned itself not just as a place to park capital, but as a city to live, build businesses, and preserve generational wealth.
Dubai as a Second-Home and Family Office Hub
Dubai has increasingly become a second-home base for global millionaires, particularly those from:
- India
- Russia and CIS countries
- The UK and Europe
- Africa and the Middle East
According to New World Wealth’s internal data, the UAE is now the fastest-growing family office hub in the world, hosting at least 250 family offices as of mid-2025.
Most of these were established post-Covid by centi-millionaires and billionaires seeking:
- Jurisdictional stability
- Wealth structuring and succession planning
- Access to global investment opportunities
Population Growth Follows the Wealth
The influx of high-net-worth individuals is reshaping Dubai’s demographic profile. Official data shows the city’s population has now crossed 4 million residents—the highest level in its history.
This growth is driven by:
- Professionals relocating with capital and businesses
- Retirees seeking tax efficiency and lifestyle quality
- Digital nomads and entrepreneurs operating globally
The result is a reinforcing cycle: wealth attracts talent, talent attracts capital, and both fuel long-term economic expansion.
What This Means Going Forward
Dubai’s rise is no longer speculative—it is data-backed. The emirate has transitioned from a regional hub into a global wealth magnet, competing directly with Europe’s most established financial cities.
Strategic insight: As wealth concentration increases, demand for premium real estate, private banking, family office services, and legacy planning will continue to accelerate—particularly in prime coastal, financial, and master-planned communities.
If you want, I can next break down which Dubai districts benefit most from millionaire inflows or explain how this wealth trend directly impacts property prices, yields, and long-term capital appreciation.
