Dubai Home to 201 Centi-Millionaires & 15 Billionaires
Dubai is now home to 210 centi-millionaires (US$100 million+) and 15 billionaires, a figure which is set to grow exponentially, rendering Dubai one of the world's most inviting environments for global investment.
The research, completed by Henley & Partners, states that the above figures could increase by 78% in the next decade.
The results mean that Dubai is now ranked 16th out of 50 globally for the number of people who have wealth of $100 million or more.
This is also means that Dubai has more centi-millionaires that the whole of Russia, which has 205 to Dubai's 210.
The top three cities were all in the USA, showing the power of legacy wealth, with New York having the most centi-millionaires at 775.
San Francisco - the home of Silicon Valley and big tech firms such as Google, Facebook and Twitter - came in at second, but did have more billionaires that New York, with 69 compared to 62.
Los Angeles was in third place, followed by London, UK, then Beijing, Shanghai, Singapore and Hong Kong.
The Future is in the East
While Western nations dominated the charts, the future seems to lay more in the East, with Dubai at the higher end of the scale in terms of its forecasted growth, for which it came in at seventh place globally.
Hangzhou, China, was at the top with 95% growth expected on 98 centimillionaires, followed by Shenzhen with 88% growth expected, then Delhi (India), Riyadh (Saudi Arabia) and Mumbai (India).
While the number of centi-millionaires in Riyadh was recorded at 65, with nine billionaires, growth of 85% is expected in 10 years.
Philippe Amarante, head of Henley & Partners Dubai, said: “The race to attract and retain centis is intensifying around the world. While countries like Singapore have set the benchmark, the UAE and Saudi Arabia are not far behind.”
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