UAE: The Ultimate Destination for Millionaires in 2024





In 2024, the number of millionaires relocating globally will increase greatly according to the Wealth Migration Report. According to Henley & Partners’ group head of private clients Dominic Volek, the report asserts that 120,000 millionaires moved in 2023, a figure likely to be exceeded by 128,000 next year. The dynamics in global wealth are seen shifting his weight from the geopolitical, economic, and social events, a feature that is well depicted by its spread. Undoubtedly, about the United Arab Emirates? Approximately $925 billion worth according to data released shows that assets held by residents of this country are approximately $925billion therefore pushing the per capita income for its citizens at around $99,000; this represents an increase rate of 10% compared to 2016 while it has increased by 60% since 2007. 

The United Arab Emirates’ economic future appears very strong since projections state that private riches will increase by 50% during the coming decade. Its growth is forecasted on this fact alone –with private wealth estimated to inflate by up to 50% between now and 2020 – thus indicating that this country has promising prospects ahead of it. 5,000 new millionaires chose Dubai as home in 2005; a figure that supersedes those seen in countries such as Switzerland, New Zealand or even Singapore. This trend is attributable to the UAE’s low crime and tax rates, its "first world economy," and its "first class" healthcare system. In addition, it is an international business hub with luxury shopping, high-end real estate, and excellent educational institutions. Besides, the nation is a perfect choice for those who adore yachts or beaches, thus increasing its attractiveness according to Andrew Amoils from the New World Wealth. Egypt, Saudi Arabia and Lebanon supply well over most of these millionaire migrants while others come from India, Turkey and Nigeria. Due to its safe and lavish environment strategic UAE initiative turns it to the number one place for rich men and women from all over the world who need somewhere stable during periods of international unpredictability.

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