Dubai and Abu Dhabi are among the world’s top five destinations for high-net-worth individuals (HNWIs) as the UAE continues to attract the ultra wealthy, a report by property consultancy Savills Middle East has found.
Dubai tops the new charts while Abu Dhabi was ranked fifth. New York was second, Singapore third and Hong Kong fourth on the Savills HNWI Hotspot Index, which analysed nearly 100 cities in business environment, family infrastructure and cost, legacy planning, lifestyle and privacy.
Monaco, Los Angeles, Miami, Aspen (in the US state of Colorado) and London round off the top 10 in the Spotlight on Wealth Trends 2025 report.
The survey identifies a broader global trend of the wealthy prioritising lifestyle and family-orientated factors when choosing where to live, work and invest.
“Globally, we’re seeing the world’s wealthy look beyond traditional financial hubs in favour of destinations that deliver lifestyle, well-being and family appeal alongside business opportunity,” said Kelcie Sellers, associate director of Savills World Research.
“The UAE stands out for its ability to offer all three, from excellent education and connectivity to a dynamic, forward-looking economy.”
Dubai, as well as other emirates in the Arab world's second-largest economy, has attracted an influx of millionaires from around the world.
The number of them living in Dubai has doubled in the past decade, making it one of the world’s fastest growing wealth hubs, according to the World’s Wealthiest Cities Report 2025, conducted by New World Wealth for Henley & Partners. It also found a shake-up of the traditional order, with millionaires leaving London in their thousands.
The latest data, which is for 2024 and in US dollars, indicates Dubai now has 81,200 millionaires, 237 centimillionaires (whose wealth is in the hundreds of millions) and 20 billionaires. The previous year, there were 72,500 millionaires, 212 centimillionaires and 15 billionaires.
Dubai leads Savills' global ranking for the number of international schools (168) and is within the top 10 for lifestyle. The city also features in the top five for legacy and delivers favourable tax environments, with no inheritance, capital gains or wealth levies, the report found.
Abu Dhabi stands out for its economic competitiveness and connectivity, attracting an increasing share of corporate and sovereign wealth investment, Savills found.
More HNWIs are viewing Dubai and Abu Dhabi as “long-term homes rather than short-term investment markets”, said Andrew Cummings, head of residential agency at Savills Middle East. The mix of quality housing, education, health care and accessibility, combined with the UAE’s stable, tax-efficient environment, makes it one of the most compelling destinations globally, he added.
Across the region, emerging destinations such as Saudi Arabia and Qatar are also gaining momentum, driven by major infrastructure projects, diversification and strong policy support, the report found.
Millennials and Gen Z stand to inherit significant capital – more than $18 trillion in wealth globally, investment company Vanguard said. This shift will affect the most desirable cities for wealth in the future, as the younger generations tend to favour those that align with their personal values, such as sustainability or the prospect for investment, as well as areas with strong digital infrastructure and quality of life, Savills said.
