Dubai, Abu Dhabi make world’s top 5 destinations for wealthy: What to know

Dubai and Abu Dhabi are in the top five of the world’s cities for high-net-worth individuals in 2025, according to a new report, underscoring the United Arab Emirates as a global destination for affluent individuals and investors. This category includes people who have at least $1 million in investable assets.

What happened: According to real estate company Savills’ inaugural "Spotlight on Wealth Trends 2025" report, which was released on Monday, Dubai ranked first while Abu Dhabi ranked fifth.

The report analyzed nearly 100 global destinations across five criteria: business environment, family infrastructure and cost, legacy planning, lifestyle and privacy.

New York ranked second, followed by Singapore in third and Hong Kong in fourth. Monaco, Los Angeles, Miami, Aspen (in the US state of Colorado) and London rounded off the top 10.

The results show that the UAE’s two biggest cities have become a magnet for multimillionaires, offering pro-business environments, robust legal frameworks, high-quality education and lifestyle appeal.

Dubai also leads Savills' rankings for the number of international schools, with 168 available, and ranks in the top 10 for lifestyle due to its mix of retail, hospitality and cultural offerings. The emirate also features in the top five locations for legacy and delivers favorable tax environments, with no income, inheritance, capital gains or wealth taxes. Abu Dhabi, meanwhile, won plaudits for its economic competitiveness and connectivity, attracting an increasing share of corporate and sovereign wealth investment.

Why it matters: The rankings show that the world’s wealthy are looking beyond traditional financial hubs such as Hong Kong, London, Singapore and New York in favor of destinations like Dubai and Abu Dhabi, which also offer lifestyle, well-being and family appeal alongside business opportunities, Kelcie Sellers, associate director, Savills World Research, observed in the report.

The UAE government has launched several initiatives to attract high-net-worth individuals, focusing on residency incentives, no or low taxes, cutting-edge infrastructure and education, as well as diversified investment opportunities. Among these initiatives is the “Golden Visa” program introduced in 2019, good for a decade for those who invest 2 million Emirati dirhams ($540,000). Furthermore, Dubai and Abu Dhabi have economic free zones, which allow for 100% foreign ownership and streamlined regulations to establish businesses quickly as well as tax exemptions.

Andrew Cummings, head of Savills Middle East, added, “More high-net-worth individuals are viewing Dubai and Abu Dhabi as long-term homes rather than short-term investment markets. The mix of quality housing, education, health care and accessibility, combined with the UAE’s stable, tax-efficient environment, makes it one of the most compelling destinations globally.”

Know more: The number of these individuals living in Dubai has doubled in the last decade, according to the World’s Wealthiest Cities Report 2025 by New World Wealth for Henley & Partners. The report, which covers 2024 data in US dollars, shows Dubai now has 81,200 millionaires, 237 centimillionaires (those with wealth in the hundreds of millions) and 20 billionaires. In 2023, Dubai had 72,500 millionaires, 212 centimillionaires and 15 billionaires. 

Since the 2022 invasion of Ukraine, a growing number of wealthy Russians have moved to Dubai, drawn by sanctions in other countries, a business-friendly environment, and the UAE’s neutral stance.

The report showed that millionaires have been leaving traditional hubs like London in their thousands, often for the UAE. In 2025, Britain is expected to lose a record 16,500 millionaires, according to Henley & Partners.