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Dubai, Abu Dhabi, and Riyadh set to double centi-millionaire populations by 2040

#International News#United Arab Emirates
Last Updated : 26th Sep, 2024
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Synopsis

A new report by Henley & Partners identifies Dubai, Abu Dhabi, and Riyadh as emerging hotspots for centi-millionaires-individuals with liquid assets of USD 100 million or more. These Gulf cities, along with several Asian metropolises, are expected to see their ultra-wealthy populations more than double by 2040. Dubai currently ranks 15th globally with 212 centi-millionaires, while Abu Dhabi and Riyadh follow at 50th and 51st positions respectively. The report predicts over 150% growth in centi-millionaire populations for these centi city hotspots over the next 16 years, signalling a shift in global wealth distribution and highlighting the rising importance of emerging markets in the landscape of global affluence.

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A recent report by Henley & Partners highlights Dubai, Abu Dhabi, and Riyadh as emerging hotspots for the ultra-wealthy. These Gulf cities are expected to see their populations of centi-millionaires-individuals with liquid assets of USD 100 million or more-more than double by 2040.


Currently, Dubai ranks 15th globally with 212 centi-millionaires, while Abu Dhabi and Riyadh occupy the 50th and 51st positions with 68 and 67 centi-millionaires, respectively. These cities, along with Asian metropolises like Hangzhou, Shenzhen, Taipei, and Bengaluru, are identified as "centi city hotspots" to watch.

The report predicts a growth rate exceeding 150% in the centi-millionaire populations of these locations over the next 16 years. This trend signals a shift in global wealth distribution, with emerging markets in Asia and the Middle East poised to make significant impacts.

The report by Henley & Partners underscores the significant rise of Dubai, Abu Dhabi, and Riyadh as key destinations for centi-millionaires, with their populations projected to more than double by 2040. This anticipated growth, alongside emerging Asian metropolises, indicates a notable shift in global wealth dynamics, highlighting the increasing influence of the Middle East and Asia in shaping the future of wealth distribution.
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