21 10 2020

UAE is the most attractive destination for billionaires

UAE is the most attractive destination for billionaires

According to reports from New World Wealth, 1,500 millionaires settled in the United Arab Emirates in 2019 alone. This fact gives us reason to assert that the Emirates is still one of the most popular destinations for the richest people in the world.

The United Arab Emirates is the leader among the countries in the Gulf region in terms of personal capital. The Emirates are leaving Saudi Arabia and Turkey behind. Summing up the results of the past 2019, the United Arab Emirates entered the TOP 10 countries with the largest influx of ultra-rich people on the planet.

As of July 2020, there were 79 thousand millionaires and almost 4 thousand multimillionaires in the UAE (people with an account status of over $ 10 million fall into this category) and 12 billionaires. The account status of all these people is about 825 billion dollars, in national currency - 3.02 trillion dirhams.

Separately, it is worth highlighting the city of Dubai, which is one of the world leaders in the ranking of the richest people in the world. On the same date, there were 50 thousand millionaires in Dubai. The total financial status of these people amounts to about 500 billion dollars (2 trillion dirhams).

According to reports from the last 20 years, the United Arab Emirates has become a real home for a large number of wealthy people, and the UAE occupies a leading position in terms of influx. More than 25 thousand of the richest people have moved to the Emirates in the last 10 years alone. Especially many wealthy immigrants come from the Middle East.

What attracts them to the United Arab Emirates? The list of advantages is quite extensive, here are the main ones: high profitability and safety, no taxes, developed healthcare, a top-class business community, shopping opportunities and, of course, attractive real estate that is known around the world.

There is now a temporary outflow of people from the United Arab Emirates associated with COVID-19. Experts predict the duration of the outflow no more than 2 years. Looking in the long term, promising businessmen and the richest people in the world have come to the United Arab Emirates and will continue to immigrate.