A UK-based investment and housing consultancy firm released the “World’s Wealthiest Cities Report 2024” on Tuesday, ranking Dubai as the 18th wealthiest city in the world.
In addition to being among the world’s richest cities, Dubai has earned the title of the wealthiest city in the Arab world. The city has long been a hub for investment and trade, attracting global billionaires, many of whom have chosen to make it their permanent residence.
According to the report by Henley & Partners, the movement and economic activities of wealthy individuals in Dubai have increased by 102% over the past decade. This growth rate is unmatched by any other city worldwide during the same period. Alongside Dubai, the capital city of the UAE, Abu Dhabi, is also experiencing significant growth. Henley & Partners noted that the number of millionaires in Abu Dhabi has risen by 80% from 2014 to 2024, with a current population of 17,800 millionaires residing in the city.
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