These are Investment Destination Cities for Super Rich People

Visitors see the atmosphere of Dubai City from the Burj Khalifa building, Dubai, United Arab Emirates, Monday (14/3/2022). According to Henley & Partners, Dubai is one of the fastest growing cities for the super rich., DUBAI — According to Henley & Partners, Dubai is one of the fastest growing cities for the super-rich.

Henley & Partners tracks personal wealth and investment migration trends around the world and provides New World Wealth global wealth intelligence services. “Status safe haven Dubai and its low tax rates make it a magnet for migrating millionaires from around the world,” according to a report by Henley & Partners ZawyaWednesday (19/4/2023).

Around 3,500 high-income individuals move to Dubai in 2022 alone. Marrakesh in Morocco and Kigali in Rwanda are other fastest growing cities for the rich in the Middle East and Africa region.

Globally, New York, the world’s richest city, maintains its position at the top of the list with 340,000 millionaires last year. Dubai is ranked twentieth on the list. Tokyo, California’s Bay Area, London and Singapore are featured on the list, which looks at 97 cities in nine regions around the world. However, the San Francisco Bay Area is home to the most billionaires globally at 63, followed by New York City at 58 and Beijing at 43.

“The US and China dominate the Top 10 Richest Cities list, while only one European city, namely London, makes the 2023 list,” the report said.

Dubai has become the destination of choice for the global rich following the United Arab Emirates (UAE)’s rapid recovery from the Covid-19 pandemic. The oil-rich country also introduced long-term visas and relaxed certain work visas and social rules to polish its international image and make it attractive to those who want to live, work and invest there.

source: Zawya

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