In 2022, UAE will attract the highest number of millionaires worldwide. While different destinations are losing the lustre of attracting wealthy investors, UAE is becoming a hub for the same matter.
UAE will be estimated to leave behind even the most preferred destinations by wealthy investors such as the UK, USA, and Russia. The latest Henley Global Citizens Report showed how around 4000s of millionaires would be migrating to the USA. This movement will make the UAE surpass big countries like Singapore, Israel, USA, Switzerland, Australia, Canada, New Zealand, UK, India, etc.
The New Wealth World, in a report, stated that there was a total of $966 billion which included around 92,600 millionaires who had over 1 million USD wealth, 2,000 individuals with 10 Million USD wealth and 251 centi-millionaires with over 100 million-plus USD wealth.
After hosting Expo 2020, UAE sees an increase in gaining the trust of HNWIs ( high net worth individuals). In addition, wealthy investors are getting interested in business opportunities in the UAE.
In 2019, the net inflow of millionaires in the UAE was 1,200. On top of that, the forecast of an increase in the number of millionaires in UAE with 4,000 in 2022 shows a dramatic increase of 208%. As a result, this shows the remarkable improvements and increases in the interests of millionaires worldwide.
The most significant expected migration is from Russia. Among other countries include Hong Kong, India, China, Ukraine, Brazil, the UK, Saudi Arabia, Mexico, and Indonesia. While UAE will be increasing the number of HNWIs in 2022, many other countries are expected to lose the same. India is estimated to lose approx. 8,000 HNWIs in 2022; meanwhile, Hong Kong is said to lose 3,000 HNWIs, and many other countries will face the same.
Highest Number of Millionaires in UAE
UAE has an agile approach in terms of adapting to regulation and attracting talent. All around the world, investors are getting excited over the business and profit opportunities in the UAE. This leads to many millionaires relocating to the UAE. UAE is seeing a stellar growth from the business point of view. In addition, we are yet to see a more incredible formation