Dubai ranks 23rd on the wealthiest cities' list with 13 billionaires, 68,000 millionaires
Hyderabad: Dubai stands for skyscrapers and it is called a paradise in the desert. Dubai, which has made rapid progress in a very short period of time, is now competing with many major cities around the world in terms of development. Day by day it is rapidly developing. The city of Dubai, which was once a barren desert, is now developing at a jet speed in all fields.
Currently, Dubai has tens of billionaires and thousands of millionaires. This is known based on the latest Henley Global Report. Dubai ranked 23rd in the list of cities with the highest number of millionaires. The Henley report states that Dubai currently has 13 billionaires and 68,000 millionaires.
Along with Dubai, the cities of Abu Dhabi, Sharjah, Riyadh and Doha have also been included in the list of fastest growing cities this year. The latest report tracks private wealth and expatriate investment trends around the world and explains how Dubai's highly diversified economy has advanced its position globally.
The Henley Report notes that Dubai's economy is strong in multiple key sectors, including basic materials, hotels, financial services, oil and gas, real estate, retail and transportation. The report also identified prime residential areas such as Emirates Hills, Jumeirah Golf Estates, and Palm Jumeirah as the wealthiest parts of Dubai.
Andrew Amoils, head of research at New World Wealth, said that the millionaire population in Dubai is growing rapidly. Andrew said that the Emirate is sure to join the list of top 20 wealthiest cities by 2030 along with India's Mumbai (25th place) and China's Shenzhen (30th place). Also, cities with strong oil and gas industries, including Riyadh, Sharjah, Luanda, Abu Dhabi, Doha and Lagos, have seen good economic results this year, he said.
According to the latest Henley Global Citizens Report, the superpower America dominates the world's top 20 cities with the highest number of millionaires in 2022. New York City took first place with 3.45 lakh millionaires. Also, San Francisco, Los Angeles, Chicago, Houston and Dallas cities are also standing in the top 20 in the list of wealthiest cities in the world