If you’re not Daddy Warbucks (or have one) in Dubai, the city’s lavish parties will definitely make you feel like one. Dubai is home to tens of thousands of millionaires.
Is it any surprise, then, that 13, billionaires, 202 centimillionaires, and 67,900 millionaires have chosen to call this skyscraper-lined city their “humble” home? And that number is only likely to increase and pick up speed, with Dubai predicted to crack the top 20 richest cities by 2030. (according to Andrew Amoils, Head of Research at New World Wealth).
Along with Dubai, Mumbai and Shenzhen are all experiencing an increase in their wealthy populations.
Dubai’s diverse commercial prowess has made way for a number of powerful main industries, such as basic materials, accommodation, financial services, oil and gas, real estate, retail, and transportation.
In terms of the Top 20 Cities in the World with the Most Millionaires in 2022, the USA now holds a huge advantage, with New York topping the list of the world’s wealthiest cities. Following the San Francisco Bay Area and London, Tokyo came in second.
World’s top 10 wealthiest cities (ranked by the number of millionaires)
- New York: 345,600
- Tokyo: 304,900
- San Francisco Bay Area: 276,400
- London: 272,400
- Singapore: 249,800
- Los Angeles & Malibu: 192,400
- Chicago: 160,100
- Houston: 132,600
- Beijing: 131,500
- Shanghai: 130,100