In the United Arab Emirates, in 2024, the nation is expected to see over 6,700 high-net-worth individuals (HNWIs), outpacing more traditional wealth centers such as the US and Singapore. However, this is an unprecedented flow of wealth which shows both the UAE’s success in economic diversification strategies and its attractiveness as a tax-free jurisdiction with first-class infrastructure.
Top 10 Countries in 2024 Attracting Millionaires
United Arab Emirates (6,700 millionaires):
It’s zero income tax policy, golden visa program and strategic location as east meets west mean it is leading the global race. Luxury real estate markets in Dubai and Abu Dhabi, and world-class infrastructure, remain attractive to large wealth.
United States (3,800 millionaires):
Continuing to maintain its strong position backed by robust financial markets, technological innovation hubs, and spread out investment opportunities across various sectors.
Singapore (3,500 millionaires):
With its political stability and efficient business environment along with its strategic position as Asia’s premier financial hub, it has been luring wealthy individuals.
Canada (3,200 millionaires):
Its high quality of life, stable political climate, and, most importantly, attractive immigration policies for investors and entrepreneurs, are drawing millionaires.
Australia (2,500 millionaires):
A combination of economic stability, a premium lifestyle, and a big opportunity for real estate investment in major cities.
Italy (2,200 millionaires):
Arming itself with its cultural heritage, luxury markets, and recently introduced tax incentives for wealthy immigrants.
Switzerland (1,500 millionaires):
It remained popular because of banking privacy, political neutrality, and high living standards.
Greece (1,200 millionaires):
Growing in tourism and real estate sectors as well as attracting wealth through its golden visa program.
Portugal (800 millionaires):
Its golden visa scheme and freewheeling tax treatment for new residents have drawn investors.
Japan (400 millionaires):
The technological advancement, stable economy, and unique investment opportunities rounded out its technological advancement, stable economy, and unique investment opportunities.
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Strategically blessed and forward-thinking, the UAE has made itself a hotbed for wealthy migrants. World-class infrastructure, strategic location between east and west coupled with a zero income tax policy make an irresistible proposition for high net worth individuals. The economic initiatives such as the Dubai 2040 Urban Master Plan and Abu Dhabi Economic Vision 2030 plus the latest digital infrastructure, offer you diverse investment opportunities. Not only does it provide lifestyle benefits, but also luxury real estate, premium healthcare and education, high-end shopping, and an international cultural setting. All these together made the UAE into a global wealth magnet combined with political stability and security.
