Dubai and Abu Dhabi Attract Global Wealth, Outshining World Competitors

24 Apr, 2025

Dubai and Abu Dhabi have emerged as leading global destinations for high-net-worth individuals (HNWIs) seeking relocation, driven by tax incentives and exceptional quality of life. According to the Savills Dynamic Wealth Index, both cities rank among the top five global locations for affluent individuals, with Singapore, Zurich, and Auckland completing the list.

The UAE capital, Abu Dhabi, also ranks among the top five cities for corporate relocations, based on factors such as corporate tax benefits, foreign direct investment (FDI), and a supportive business environment. This shift is largely attributed to the UAE’s proactive policies and global migration trends. In 2024 alone, the UK experienced a net outflow of 10,800 HNWIs due to tax changes, particularly affecting non-domiciled residents.

Dubai has witnessed a 102% rise in millionaires over the past decade, now home to 81,200 millionaires, 237 centimillionaires, and 20 billionaires, ranking it among the fastest-growing wealth hubs globally. Henley & Partners reports that more millionaires relocated to the UAE last year than any other country—nearly double that of the US.

Savills’ report highlights how tax policies, government incentives, and quality of life continue to influence wealth migration patterns. Dubai and Abu Dhabi are also recognized in the top 12 global cities for corporate growth, bolstered by low taxation, rising FDI, and strategic investment in talent and infrastructure.

The UAE’s golden visa initiative, alongside robust healthcare, education, and real estate offerings, adds to its appeal. Dubai’s real estate remains competitively priced compared to other global cities, offering value even amidst significant growth. As technology fuels new wealth creation, both cities aim to grow their tech ecosystems to attract the next generation of investors and entrepreneurs, reinforcing their positions as global wealth and business magnets.

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