UAE TO ATTRACT OVER 6,700 MILLIONAIRES IN 2024

UAE TO ATTRACT OVER 6,700 MILLIONAIRES IN 2024, MOSTLY FROM INDIA, RUSSIA, AFRICA.
The wealthy are attracted to the Emirates for its zero income tax, golden visa, luxury lifestyle, and easy connectivity by local carriers.

More than 6,700 millionaires will relocate to the UAE this year, putting the Emirates at the top of all the countries in attracting the highest number of high-net-worth individuals, according to a new study released on Tuesday, June 18.
For the third year running, the UAE looks set to take first place as the world’s leading wealth magnet, significantly boosted by large inflows from the UK and Europe, as per The Henley Private Wealth Migration Report 2024 released by Henley and Partners.

“With consistent high inflows from India, the wider Middle East region, Russia, and Africa, the anticipated influx of larger numbers of Brits and Europeans looks set to see the Emirates attract nearly twice as many millionaires as its nearest rival, the US, which is projected to benefit from a net inflow of 3,800 millionaires in 2024,” said Henley and Partners.
Millionaires from Europe are attracted to the UAE for its zero income tax, golden visa, luxury lifestyle, and easy connectivity by local carriers such as Emirates and flydubai.

Ranked 14th globally, the UAE is home to 116,500 millionaires, 308 centimillionaires and 20 billionaires. The study features high net worth individuals (HNWls) with liquid investable wealth of $1 million or more.

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