The UAE is the land of fancy cars and multi-million Dirham homes so it’s no wonder it’s home to 116,500 millionaires. But it’s expected that that population will increase this year.

‘Millionaires’ and ‘HNWIs’ refer to individuals with liquid investable wealth of USD 1 million or more.

In 2024, projections indicate that the UAE will attract 6,700 new millionaires, establishing itself as the top global destination for wealthy individuals seeking to relocate.

According to a report by Henley & Partners, the UAE holds the distinction of being the foremost destination globally for migrating millionaires and high-net-worth individuals. The country consistently  draws significant numbers of affluent individuals from regions such as India, the Middle East, Russia, and Africa.

In 2024, substantial inflows of millionaires are also anticipated from the UK and Europe to the UAE.

This year, the UAE is poised to attract the highest number of millionaires globally, surpassing countries like the USA, Singapore, and Canada.