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UAE leapfrogs New York, Singapore and Hong Kong in global HNWI rankings
Dubai and Abu Dhabi have cemented their position among the world’s most desirable cities for high-net-worth individuals (HNWIs), according to a new Savills Middle East study. The UAE’s two major cities now rank within the top five global destinations for the ultra wealthy, surpassing established financial hubs such as New York, Singapore and Hong Kong.
Dubai secured the No. 1 position, while Abu Dhabi claimed 5th place on the Savills HNWI Hotspot Index, which evaluated nearly 100 cities across key indicators including:
- Business environment
- Family lifestyle and infrastructure
- Cost and legacy planning
- Privacy
- Quality of life
Trailing Dubai in the top five were New York (2nd), Singapore (3rd) and Hong Kong (4th). Other global hotspots rounding out the top 10 include Monaco, Los Angeles, Miami, Aspen, and London.
Lifestyle Over Traditional Finance Hubs
The Savills report highlights a major shift: wealthy individuals today are choosing cities not only for business advantage, but for lifestyle, well-being, and family priorities.
“The world’s wealthy are looking beyond traditional financial centres and gravitating towards cities that offer quality of life alongside economic opportunity,” said Kelcie Sellers, Associate Director, Savills World Research.
“The UAE excels in all three—connectivity, education, and a dynamic, forward-looking economy.”
Dubai: One of the Fastest-Growing Wealth Hubs Globally
New research from the World’s Wealthiest Cities Report 2025, conducted by New World Wealth for Henley & Partners, shows Dubai’s millionaire population has doubled over the past decade.
Wealth growth in Dubai (2023 → 2024):
- Millionaires: from 72,500 → 81,200
- Centimillionaires: 212 → 237
- Billionaires: 15 → 20
Dubai leads globally in the number of international schools (168) and ranks in the top 10 worldwide for lifestyle. Its tax-friendly environment—no inheritance tax, capital gains tax, or wealth tax—further enhances its appeal for long-term wealth preservation.
Abu Dhabi: Rising as a Sovereign and Corporate Investment Magnet
Abu Dhabi continues to strengthen its profile through:
- Strong economic competitiveness
- World-class connectivity
- Expanding sovereign wealth and corporate investment
- High-quality housing and family infrastructure
Savills notes that more HNWIs are viewing Abu Dhabi as a long-term residence, not just an investment base.
Why the UAE Leads the Global Wealth Migration
According to Andrew Cummings, Head of Residential Agency at Savills Middle East:
“The UAE offers a compelling mix—quality housing, education, healthcare, accessibility and long-term stability. More wealthy families are choosing the country as a permanent home.”
The nation’s stable governance, welcoming residency pathways, and safe, high-standard lifestyle continue to draw millionaires from Europe, Asia, and beyond.
Saudi Arabia and Qatar: Rising Regional Competitors
Beyond the UAE, emerging Gulf destinations such as Saudi Arabia and Qatar are gaining attention due to:
- Large-scale infrastructure projects
- Economic diversification
- Investor-friendly government policies
These markets are expected to see accelerated inflows of global wealth over the coming decade.
A Generational Wealth Shift is Coming
With Millennials and Gen Z expected to inherit more than $18 trillion globally, younger HNWIs are influencing where future wealth flows. According to Savills, they prefer cities that align with their personal values, especially:
- Sustainability
- Digital connectivity
- Quality of life
- Innovation and entrepreneurship opportunities
This positions cities like Dubai and Abu Dhabi—already strong in innovation, technology, and lifestyle—to stay ahead in the long term.