The World\u2019s Wealthiest Cities Report 2025, released by Henley & Partners, has revealed a remarkable rise for Dubai among the world\u2019s leading destinations for wealthy individuals, with the city now home to approximately 81,200 millionaires.<\/p>\n
This figure includes 237 individuals whose wealth exceeds $100 million, in addition to 20 billionaires, reflecting Dubai\u2019s growing position on the global wealth map.<\/p>\n
The emirate recorded strong growth of 102% in its millionaire population between 2014 and 2024, giving it the fastest rise in the global ranking among major cities. Dubai moved from 21st place to 18th among the world\u2019s 50 wealthiest cities.<\/p>\n
This upward movement reflects a broader trend across the Middle East, with the report expecting cities such as Dubai and Abu Dhabi to see a significant increase in their millionaire populations over the next decade.<\/p>\n
The growth is being supported by the UAE\u2019s vision to strengthen its status as a global financial center, along with an attractive investment environment, the absence of personal income and capital gains taxes, a high quality of life, advanced infrastructure, and ease of doing business.<\/p>\n
Globally, the United States continued to lead the wealth creation landscape, with 11 American cities included among the top 50.<\/p>\n
New York retained first place worldwide, with approximately 384,500 millionaires, including 818 individuals with wealth of more than $100 million, as well as 66 billionaires.<\/p>\n
The San Francisco Bay Area and Silicon Valley ranked second, with a combined total of 342,400 millionaires. The region also surpassed New York in the number of billionaires and recorded growth of 98% over the past decade.<\/p>\n
Only Shenzhen, Hangzhou, and Dubai achieved higher growth rates globally.<\/p>\n
The Chinese city of Shenzhen recorded growth of 142%, placing it 28th worldwide, with approximately 50,800 millionaires.<\/p>\n
Hangzhou also posted growth of 108%, reaching 35th place after its millionaire population rose to 32,200.<\/p>\n
At the same time, Tokyo retained third place globally, with a total of 292,300 millionaires, supported by the strong performance of Japanese markets and the recovery of the Nikkei 225 index.<\/p>\n
Singapore ranked fourth, with approximately 242,400 millionaires, further reinforcing its position as one of the leading financial centers in Asia and the world.<\/p>\n
While several cities made strong progress, others fell in the global wealth rankings.<\/p>\n
Seoul recorded the largest decline during the year, dropping from 19th place to 24th.<\/p>\n
London also fell out of the top five, moving down to sixth place with approximately 215,700 millionaires.<\/p>\n
London and Moscow were the only two cities among the top 50 to record a decline in their millionaire populations over the past decade.<\/p>\n
Los Angeles benefited from this shift and moved ahead of London into fifth place, highlighting the continued strength of wealth creation in the United States.<\/p>\n
Elsewhere in the top 10, Paris rose to seventh place, Hong Kong ranked eighth, and Sydney came in ninth.<\/p>\n
Chicago also entered the top 10, moving ahead of both Beijing and Shanghai.<\/p>\n
Milan, Vancouver, Miami, Hangzhou, Taipei, and Washington, D.C. recorded notable gains, while Lisbon entered the ranking for the first time, replacing Auckland.<\/p>\n
Dr. Juerg Steffen, CEO of Henley & Partners, said the cities that are most successful in attracting wealthy individuals tend to share several key strengths, including strong legal systems, advanced financial infrastructure, and investment migration programs.<\/p>\n
He noted that seven of the world\u2019s 10 wealthiest cities are located in countries that offer residence pathways through investment, helping them attract international capital and talent.<\/p>\n
Looking ahead to 2035, the report expects the population of ultra-wealthy individuals in Dubai and Abu Dhabi to grow by more than 100%.<\/p>\n
Other cities expected to achieve similar growth include Delhi and Bengaluru in India, as well as Warsaw and Athens in Europe.<\/p>\n
The report also predicts that the number of wealthy residents will double in several smaller investment migration centers, including St. Julian\u2019s and Sliema in Malta, Lugano in Switzerland, and Riga and Jurmala in Latvia.<\/p>\n
This comes as wealthy individuals increasingly seek more flexible and secure residence options while diversifying their geographic and investment presence.<\/p>\n
Dominic Volek, Group Head of Private Clients at Henley & Partners, said a growing number of millionaires are looking to spread their residency and investments across multiple jurisdictions to reduce risk and take advantage of opportunities in different markets.<\/p>\n
In terms of living costs and real estate prices, Monaco topped the list of the world\u2019s most expensive cities, with average wealth per resident exceeding $20 million.<\/p>\n
Luxury property prices in Monaco also exceed $38,800 per square meter, making it the most expensive destination in this segment.<\/p>\n
New York ranked second among the world\u2019s most expensive cities, followed by Hong Kong and London, while the French municipality of Saint-Jean-Cap-Ferrat placed fifth.<\/p>\n
Paris moved ahead of Sydney to take sixth place. France had the largest number of cities included in the global list of the most expensive locations, followed by the United States, with Switzerland and Italy also having a strong presence.<\/p>\n
The report confirms that global wealth has become more mobile than ever, and that cities able to combine investment opportunities, quality of life, and legal stability will be the most successful in attracting wealthy individuals in the years ahead.<\/p>\n
Dubai\u2019s rapid rise stands out as one of the most significant shifts on the global wealth map, alongside the continued dominance of American cities and the growing role of technology and financial centers in Asia.<\/p>\n
With the continued development of its economic and regulatory environment, Dubai appears well positioned to maintain its progress and further strengthen its status as one of the world\u2019s leading destinations for wealthy individuals and investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
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