DUBAI EMERGES AS THE MOST ATTRACTIVE EMIRATE FOR HIGH-NET-WORTH INDIVIDUALS

Dubai has always been known for its luxury lifestyle, high-end shopping destinations, and stunning architectural marvels. But now, it has emerged as the most attractive emirate for high-net-worth individuals (HNWIs). According to the Africa Wealth 2023 Report by New World Wealth and Hanley & Partners, Dubai is the top destination for millionaires, attracting more than any other city in the world.

The report stated that between 2012 and 2022, approximately 18,500 HNWIs left Africa, and most of them migrated to the United Kingdom, the United States, and the United Arab Emirates. The UAE, with Dubai as its crown jewel, has become a top choice for the wealthy due to its tax-friendly environment, business-friendly policies, and diverse lifestyle offerings.

Dubai is home to several globally renowned brands, such as the world’s tallest building, the Burj Khalifa, and the world’s largest shopping center, the Dubai Mall. Apart from that, Dubai’s tourism and hospitality sector has been growing exponentially, with its world-class infrastructure and luxurious amenities making it a haven for the rich and famous.

The “Hanley Global Citizens” report, released in 2022, predicted that 4,000 millionaires would immigrate to the UAE in 2022 alone, which is the highest in the world, surpassing other countries such as Australia, Singapore, Israel, Switzerland, the United States of America, Canada, New Zealand, the United Kingdom, India, and others. The report further stated that this trend is set to continue in the coming years, with Dubai becoming the preferred destination for the global elite.

In conclusion, Dubai has emerged as the most attractive emirate for high-net-worth individuals, with its tax-friendly policies, business-friendly environment, luxurious amenities, and diverse lifestyle offerings. With its popularity on the rise, the city is set to become the preferred destination for the wealthy, further consolidating its position as a global hub for luxury, commerce, and tourism.