A recent report revealed that the number of billionaires in Dubai and Abu Dhabi in the United Arab Emirates rose to 16, while the number of wealthy people (millionaires) who live in the Gulf state exceeded 91,700 by the end of the first half of 2022.
According to a data of New World Wealth, according to the Emirati newspaper Al-Khaleej, the number of wealthy people in the UAE (above $100 million) has risen to 269 centi millionaires, and the number of millionaires (above $10 million) has risen to 4,290 multi-millionaire. .
Henley & Partners' research to review the world's richest cities for 2022 showed that Dubai ranks first in the Middle East and North Africa and 23 globally as home to the world's richest people. After recording an 18% increase in high net worth individuals in the first six months of the year, the emirate's population of the rich rose to 67,900 thousand from 54 thousand in June of last year.
The report stated that the number of billionaires in Dubai rose by 1 to 13 in 2022, while the number of centi-millionaires rose to 202 from 165 last year, and the number of millionaires rose to 3,170 in June from 2,480 the previous year.
Dubai ranked first in the Arab region with 67,900 millionaires, and Abu Dhabi ranked second with 23,800 millionaires, followed by Doha 21,300 and Riyadh 17,200, according to the research.
In Abu Dhabi, the number of rich people above $10 million has reached 1120 millionaires, and 67 people with wealth above $100 million. The emirate is also home to 3 billionaires. The growth rate of the number of the wealthy reached 16% during 2022.
The study defines the rich as individuals with a fortune of $1 million or more, while millionaires (the ultra-rich) have a personal fortune of $10 million or more. The net worth of Sinti is a millionaire, the wealthy with net worth over $100 million or more, and billionaires over $1 billion.
The report revealed that New York City topped the list of the richest cities in the world with 345,600 millionaires; The total private wealth of New Yorkers exceeds $3 trillion; That is, higher than the total private wealth owned in most of the G20 major countries.
The United States of America dominated the top 20 cities in the world with the number of millionaires in 2022, with New York taking the crown with 345,600 millionaires, topping 5 other American cities: San Francisco, Los Angeles, Chicago, Houston, and Dallas.
Investigating the 25 fastest growing cities in terms of millionaire numbers in the six months to June 2022, Dubai, Abu Dhabi and Sharjah were particularly strong performers during this period, as were the performance of cities in Texas and Florida; As US companies increasingly move their main offices to these two states, Austin, Texas, came out on top, while Houston, West Palm Beach and Miami also grew in strength.
The report stated that Dubai, Mumbai and Shenzhen are rapidly growing affluent cities and are expected to be included in the top 20 by 2030, and that Dubai is an emirate with a highly diversified economy that is strong in many key sectors including basic materials, hotels, financial services and oil. gas, real estate, retail and transportation; Emirates Hills, Jumeirah Golf Estates and Palm Jumeirah are among the wealthy areas in the emirate.
The report is part of the “Global Citizenship Report” series, which was carried out in cooperation between the global company “Henley & Partners” specialized in residency and citizenship consultancy, and the “New World Wealth” company specialized in the study and follow-up of wealth.
