Dubai ranked first in the world in terms of attractiveness for wealthy individuals and investors. International experts evaluated the 30 largest global locations across several criteria—from tax policy to quality of life and safety levels.
Dubai overtook such giants as New York, London, and Singapore, becoming the top destination for wealthy families, entrepreneurs, and digital nomads. The main drivers of capital inflow include zero taxes on inheritance, capital, and property, high personal safety, and advanced infrastructure for families and businesses.
Why Millionaires Choose Dubai
The emirate is experiencing a true demographic and investment boom. Wealthy families are moving to the city en masse, already causing overcrowding in international schools. Today, Dubai has the largest number of international educational institutions in the world, highlighting its appeal for expats with children.
The absence of taxes, transparent laws, a stable political environment, and a high quality of life make the emirate one of the safest havens for investment amid global economic turbulence.
In addition, the UAE Golden Visa, which grants ten-year residency for investments starting from 2 million dirhams, has become a key factor driving interest from entrepreneurs, IT specialists, and capital owners worldwide.
Global Trends and Dubai’s Role
In 2024, more than 680,000 new dollar millionaires appeared globally — an increase of 1.2% compared to the previous year. By 2029, their number may grow by more than 5 million.
Experts note a shift away from traditional financial centers like London and Hong Kong toward technological megacities where innovation and business go hand in hand. Cities like Shenzhen and Bangalore have shown record growth in the number of millionaires over the past decade, yet Dubai and New York remain the most resilient thanks to tax advantages, economic stability, and global influence.
Why London Is Losing Ground While Dubai Is Winning
Although London still maintains its reputation as a capital of style and culture, high inheritance and income taxes diminish its appeal for older and wealthier investors. Unlike the UK, the Middle East imposes virtually no taxes on wealth and inheritance, making jurisdictions like the UAE significantly more competitive.
This trend is also reflected in the real estate market: while demand for luxury housing in London is falling, in Dubai it continues to rise. According to agencies, the cost of premium apartments and villas in the emirate has increased by more than 20% over the past two years, and the number of buyers from Europe and Asia has reached a historic high.
Dubai — The City of the Future for the Global Elite
Today, Dubai is not just a capital of luxury but a global hub of innovation, technology, and capital. New business parks, green clusters, and smart residential districts are being developed. The government is actively implementing digitalization of public services and sustainability initiatives under the Dubai Vision 2040 program.
The combination of tax freedom, an exceptionally high level of safety, a modern lifestyle, and cultural diversity makes Dubai a magnet for those seeking not only comfort but opportunities for growth. Experts predict that the emirate will maintain its leadership among the most desirable cities for living and investment through 2030, continuing to strengthen its position in the global luxury real estate market.