The United Arab Emirates has firmly established itself as the premier destination for millionaires across the globe. As of 2023, Dubai has witnessed the second-highest inflow of millionaires globally. According to the Henley Private Wealth Migration Report, the UAE is set to welcome over 6,700 millionaires in 2024, underscoring the country’s increasing allure among the world’s elite.
The Billionaire Row at the Palm Jumeirah: photo credits to Dubai Property News
Best Places to Retire in Dubai
But why are the wealthy relocating to Dubai?
Dubai offers a multitude of incentives. Its stability, pro-business environment as well as its luxurious lifestyle has made it an appealing destination for people all around the world.
Dubai Marina: photo credits to Research Konnection
Why European Millionaires Are Gravitating to Dubai
Economic Stability: According to a report by the US News & World Reports, the UAE has earned its position as the world’s second most economically stable country. This could be attributed to the policies implemented by the country to enhance its national income and progressively diversify its economy. According to latest sources by the Government of Dubai, Dubai has witnessed a 3.3% growth rate in GDP during the first 9 months of 2023.
Business-friendly environment: Dubai has over 40 free trade zones, encouraging start-ups and entrepreneurs to start their business activities while providing them with flexible rules, single-window approvals and taxation advantages as there are no income, inheritance or capital gain taxes.
The ultimate luxury lifestyle: it goes without doubt that Dubai offers various attractions to enhance the luxury lifestyle, whether it was sailing on a private cruise, booking a helicopter ride, and for golf fanatics, you will have access to various championship courses. Whatever it is you seek, Dubai has it all.
photo credits to Viator
photo credits to mydubaicruises
photo credits to DubaiGolf
It’s not about experiencing luxury, but living it:
From sprawling villas, elegant penthouses and exclusive residential apartments, Dubai caters to all high-end housing needs.
Emaar Beachfront: photo credits to investindxb
Established developers have dedicated beachfront master communities, such as Emaar Beachfront, and partnered with globally-recognized designer brands, such as the partnership between Binghatti Developers and Jacob & Co. to deliver the most sophisticated level of living within this dynamic city.
