Report predicts more millionaires moving to the UAE

 


A new report from an international investment company says many rich people will move to the United Arab Emirates in the next year. The report estimates about 6700 millionaires will relocate to the UAE by the end of 2024. This means they have more than $1 million in wealth they can invest The UAE is a popular choice for millionaires moving abroad. 


The UAE attracts millionaires because there are no taxes on income and a special visa program The visa allows foreigners to live in the UAE long term if they invest money. Many millionaires come from countries like India Russia and parts of Africa and the Middle East. More people from Europe and the UK are also expected to move to the UAE Over 10000 millionaires may leave the UK in 2024 alone.


The number of rich people choosing to live in the UAE has grown a lot in the past 10 years By 2023 there were over 116000 millionaires and 308 people worth over $100 million living there. 20 people were billionaires with over $1 billion each. The UAE government aims to make the country a major hub for global wealth This means providing a luxury lifestyle and business friendly conditions.


When wealthy individuals move somewhere it often boosts different parts of the economy Their money and investments can help sectors like real estate technology and tourism. The UAE continues to attract many of the world rich people and their assets. Its policies to welcome millionaires are achieving the goal of economic growth and diversity.

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