UAE to attract 4,500 millionaires

An additional 4,500 millionaires could move to the United Arab Emirates in 2023, according to a study by Henley & Partners, as the country has gained status as a haven for wealthy people from around the world.

The UAE ranked second behind Australia in the capital migration ranking. A total of 122,000 wealthy people will change their addresses in 2023, rising to 128,000 next year.

The study tracks the movements of dollar millionaires. Currently, the biggest capital outflow is from China. It also indicates that the UK will lose 3,200 millionaires this year.

The top 10 countries for migration of millionaires include:

Australia (5,200)

UAE (4,500)

Singapore (3200)

USA (2,100)

Switzerland (1800)

Canada (1600)

Greece (1200)

France (1,000)

Portugal (800)

New Zealand (700).

Saudi Arabia has previously become the leader in the Middle East for the number of billionaires, Wealth-X research has revealed. A total of 187 super-rich people live in the region, with Saudi Arabia having 71 billionaires with a combined wealth of US$ 205 billion.

At the same time, there are 45 billionaires in the United Arab Emirates, with a combined wealth of US$ 200 billion. 38 of the 45 super-rich are known to reside in the Emirate of Dubai.

Wealth-X research showed that the number of billionaires in the Middle East has decreased, but their wealth has increased by 7.2%, to US$ 556 billion. The growth of capital was mainly due to the rise in energy prices. New York City topped the list of billionaire cities.

Source: Arabian Business

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