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Dubai ranks fourth among the wealthiest cities in the EMEA region, behind only London, Paris, and Milan. According to Henley & Partners, there are 86,000 millionaires in the emirate, with total liquid assets amounting to US$1.1 trillion.
This has made Dubai an attractive hub for international investors, surpassing many financial centers in Europe.
The emirate's success and sustained growth in prosperity are largely due to its long-term economic diversification strategy. Over the past decade, investment in Dubai has increased by approximately 110%, reflecting a strong inflow of capital and investor confidence.
This has been facilitated by an attractive tax policy—no capital gains or personal income tax—the creation of innovation clusters (such as Dubai Internet City), and the implementation of large-scale initiatives such as Expo 2020.
The tourism, logistics, and financial technology sectors have become the main drivers of economic growth: tourism is showing steady growth in visitor numbers, logistics is expanding its transport and warehouse infrastructure, and FinTech, cryptocurrency, and software development are experiencing rapid innovation.
In the first half of 2025, Dubai's economy is growing at a faster pace than expected: the real estate sector showed growth of 7.8% in the first quarter, trade and retail grew by 4.5%, and healthcare showed record growth of 26%.
The premium real estate market, especially in areas such as Palm Jumeirah and Downtown Dubai, continues to show price growth: high demand for villas and luxury apartments is driving up the middle and upper segments.
The number of ultra-high-net-worth residents in Dubai is growing: the city is home to 251 centimillionaires (with a net worth of $100 million or more) and 23 billionaires, which is significantly higher than last year.
Dubai attracts entrepreneurs from Asia, Europe, Russia, and the CIS countries thanks to its stable economy, security, quality of life, and favorable business environment — including simplified visa programs for investors and family offices as a means of managing large capital.
If current trends continue, experts believe that Dubai could become the richest city in EMEA by 2040-2045, surpassing London, Paris, and Milan in terms of both the number of billionaires and the total amount of liquid wealth.
