The UAE is expected to attract a record 6,700 billionaires by the end of 2024, nearly double the 3,800 expected in the United States, according to the Henry Report.
The United Arab Emirates is set to become the world’s top destination for wealthy people for the third year in a row.
This migration trend is partly driven by tax increases in countries such as the UK, which is predicted to see a 17% decline in its millionaire population by 2028.
Dubai’s appeal includes zero income tax, safety and recent visa reforms that have attracted billionaires, mainly from India, but also from Russia and Europe.
Dubai is becoming increasingly attractive to the wealthy due to its modern infrastructure, international schools, low crime rate, income tax exemptions, remote worker visas and investment incentives.
The UAE has become a dream destination for many of the world’s wealthy and is rated as the second safest country in the world.
Additionally, entertainment abounds here, with world-class casinos Wynn and MGM both having presence in the Gulf nation.
Wealth flows in here and the wealthy perch in the gorgeous branches of this bayous tree.