THAT RICH LIFE: The World’s Millionaires Are Coming To Dubai
The world’s wealthiest people are making a home in Dubai and the UAE according to the latest Wealth Report.
AfrAsia Bank and New World Wealth examined the 2019 Global Wealth Migration Review and found that Dubai is one of the most popular cities in the world for High Net World Individuals (HNWIs) to move to, along with LA, Miami, New York and San Francisco.
Over 1,000 HNWI (with assets worth over AED3million in the bank) relocated to Dubai in 2018.
Here’s where the world’s millionaires moved to in 2018
Australia: 12,000
United States: 10,000
Canada: 4,000
Switzerland: 3,000
United Arab Emirates: 2,000
Full report here
An influx of HNWIs is a positive sign
According to the report, losing HNWIs to migration is a negative sign and could be due to political strife, crime and war.
HNWIs usually choose a country based on safety, business opportunities and schooling and the UAE was listed as the top financial centre and the safest city in the region.
