Millionaire Surge to Bring Over AED25 Billion to Dubai

Dubai is gearing up for a major influx of global wealth in 2025, with an estimated 7,100 new millionaires expected to relocate to the city, bringing with them over $7 billion (AED26 billion) in fresh capital.

That amount alone is nearly half of Dubai’s total foreign direct investment from last year, highlighting the city’s fast-rising status as a magnet for global high-net-worth individuals.

According to a new report from Betterhomes, Dubai is no longer seen as a temporary luxury escape. Instead, it’s becoming a permanent base for the world’s elite. What’s drawing them in? A unique combination of safety, zero income tax, and world-class connectivity that few other cities can offer, especially as traditional wealth hubs face rising taxes and instability.

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From Pit Stop to Permanent Base

In 2024, the UAE welcomed 6,700 millionaires. If just 5% of the 142,000 millionaires projected to move globally in 2025 choose Dubai, the economic and social impact could be massive.

“We are seeing capital not just arrive in Dubai, but commit to it,” said Louis Harding, CEO of Betterhomes. “What’s unfolding is a shift from speculation to permanence, high-value properties, legacy investments, and long-term vision.”

Why Are the Wealthy Choosing Dubai?

The surge is driven by a mix of global ‘push’ and local ‘pull’ factors, as highlighted in Betterhomes’ report titled Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth.

Cities like London, San Francisco, Hong Kong, and Paris are grappling with increased tax burdens and political uncertainty. In contrast, Dubai offers clarity, ease of doing business, and rapid global access. The city is attracting entrepreneurs, investors, and family offices from across the world, including Vietnam, Argentina, Turkey, and East Asia.

Dubai currently ranks 14th globally in terms of wealth, with more than 130,000 millionaires, almost double what it had just a decade ago.

More Than Just Money

But it’s not just about relocating funds. These new residents are setting up businesses, launching ventures, and bringing international teams with them. Their long-term commitment is transforming Dubai into a base of operations, not just for luxury living, but for global leadership and legacy building.

As the wealth wave continues to grow, Dubai is no longer just a sunny destination, it’s becoming a strategic hub for the future of global capital.