The city of sheiks and cloud-beating skyscrapers has been named the richest city in the entire Middle East, while New York tops the world list with 349,500 millionaires and 60 billionaires. business recorder reported.
According to Henley's and Partners' “50 Best Cities for Millionaires” list, Dubai ranks 21st overall with 72,500 millionaires.
The stunning Gulf City has seen a 78% growth in its millionaire population in the last 10 years and also has 212 centimillionaires and 15 billionaires.
It also recorded the second largest net influx of millionaires in 2023. The only other Middle Eastern city to make the top 50 was Tel Aviv in Israel, with 24,300 millionaires.
The report claims that the capital of the United Arab Emirates, Abu Dhabi, is the world's next big hotspot for millionaires.
Additionally, Jeddah was also named the Middle Eastern city to watch.
According to the report, New York tops the list of 50 cities by the number of millionaires, followed by the high-tech hub Bay Area, Tokyo, Singapore, London, Los Angeles, Paris, Sydney, Hong Kong and Beijing on the list. 10.
New York residents are worth more than $3 trillion, more than the wealth of most G20 countries.
