UAE Among Fastest Growing Markets for Centi-Millionaires: Report

A recent report by Henley & Partners, a London-based investment migration consultancy, has revealed that Dubai is home to a whopping 202 ultra-high-net-worth individuals, commonly referred to as centi-millionaires. These individuals possess over $100 million in investable assets.

In this regard, Dubai has been ranked 18th among the top cities worldwide for its thriving population of centi-millionaires.

Overall, the United Arab Emirates (UAE) has been a popular destination for these individuals, particularly after the pandemic, as they invested heavily in real estate and made the city their primary or secondary residence.

The Henley Global Citizens Q3 report further predicted that the UAE would experience an in-flow of 4,000 millionaires in 2022 alone, surpassing countries such as Australia, Singapore, Israel, Switzerland, United States (US), Canada, New Zealand, United Kingdom (UK), and India. Note that the Q4 data, which will reveal the exact number of millionaires moving to the UAE in 2022, has yet to be published.

The study also projected that the UAE will be among the fastest-growing markets for centi-millionaires, with an expected growth rate of 52% between 2022 and 2032, only behind Vietnam, India, and Mauritius.

Among cities, New York has the highest number of centi-millionaires, followed by the San Francisco Bay Area, London, Los Angeles, Beijing, Shanghai, Geneva, Chicago, Singapore, and Houston in the top 10.

According to the report, there are 25,490 centi-millionaires globally, with 38% of them in the US, followed by China, India, UK, Germany, Switzerland, Japan, Canada, Australia, and Russia.

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