Dubai named richest Middle Eastern city, New York tops list of wealthiest

Dubai has most number of millionaires in the Middle East. — Rough Guides/ Britannica/ File

The city of sheikhs and cloud-hitting skyscrapers has been named the wealthiest city in all of the Middle East, while New York tops the global list with 349,500 millionaires and 60 billionaires, reported The National News.

As per Henley’s and Partners “Top 50 Cities for Millionaires” list, Dubai has ranked 21st overall with 72,500 millionaires.

The glitzy Gulf City has experienced growth of 78% in its millionaire population over the past 10 years and also features 212 centi-millionaires and 15 billionaires.

It also saw the second-highest net inflow of millionaires in 2023.The only other Middle Eastern city that made the top 50 was Tel Aviv in Israel, with 24,300 millionaires.

The report has stated that the capital of the UAE, Abu Dhabi, is the world’s next major millionaire hotspot.

In addition, Jeddah was also named as the city in the Middle East to look out for.

According to the report, New York topped the list of 50 cities for the number of millionaires, followed by the high-tech hub Bay Area, Tokyo, Singapore, London, Los Angeles, Paris, Sydney, Hong Kong, and Beijing in the top 10. 

New York’s residents are worth more than $3 trillion, higher than the wealth of most G20 countries.

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