According to the most recent UBS “Global Wealth Report 2025,” 13,000 more people became dollar millionaire residents in 2024, a 5.8% increase from the previous year. As has been the case for the past four years, a significant portion of these recently established millionaire bases in the UAE resulted from relocations.
“This year there has been some significant movement in the number of millionaires in many of parts of the world, both upwards and downwards,” according to the Swiss bank’s findings.
“In 2024, Turkey stands out from the crowd thanks to an 8.4% increase in its number of dollar millionaires over 2023, equivalent to a boost of roughly 7,000 people in a single year. The UAE (had) a rise of 5.8% in millionaire numbers, thanks to approximately 13,000 new entrants in this category.”
“Having looked at long-term trends, we concluded that wealth is far from static.”
That has been true in the United Arab Emirates. The multi-million dollar transactions that have been influencing the UAE investment scene are discussed by banking and real estate market sources. High net worth people from Saudi Arabia, India, China, and the United Kingdom are making significant investments in the United Arab Emirates, according to a recent research by the real estate firm Knight Frank. Deal sizes are increasing in some places, like Jumeira Bay Island.
With a total net worth of $785 million, there are an estimated 240,343 dollar-millionaires in the United Arab Emirates.
According to UBS, there are 339,029 dollar-millionaires in Saudi Arabia, and their combined worth is $958.3 million.
“In an era marked by rapid economic shifts, increasing volatility and unprecedented market developments, understanding the trends and drivers of wealth creation is more crucial than ever,” said Robert Karofsky, co-President of UBS Global Wealth Management.
