Last Updated on: 6th July 2023, 01:25 am
Dubai Has The Highest Number of Billionaires in the Middle East
According to a recent study by Wealth-X called the Billionaire Census 2023, Dubai is the Middle East’s city with the highest number of billionaires. While Saudi Arabia leads the countries in the region, Dubai is the favorite destination of the super-billionaires.
The study underscores Dubai’s strong appeal to billionaires who choose the city as their home or business hub. Altogether there are 38 billionaires in the city, who contribute significantly to the collective wealth of the Middle East.
Despite a decline in the number of billionaires in the Middle East, the wealth shared between them has increased. This shows that even in difficult times, the region is capable of generating significant wealth.
Dubai’s rise as a hub for billionaires is due to its favorable business environment, strategic location, and vibrant economy.
The attractive investment opportunities, the excellent infrastructure, and the strong financial sector make the city an attractive travel destination for the ultra-rich class.
These are the 11 cities with the most billionaires in the world:
| City | Country | Number of Billionaires |
| New York | United States | 136 |
| Hong Kong | Hong Kong | 112 |
| San Francisco | United States | 84 |
| Moscow | Russia | 76 |
| London | United Kingdom (UK) | 75 |
| Beijing | China | 61 |
| Los Angeles | United States | 58 |
| Singapore | Singapore | 54 |
| Shenzhen | China | 42 |
| Mumbai | India | 39 |
| Dubai | United Arab Emirates (UAE) | 38 |
While Dubai shines in the Middle East, the United States (US) remains the leader with the largest number of billionaires in the world, followed by China, Germany, and the United Kingdom. India is also among the top countries with a significant multi-billion dollar presence.
Also Read: UAE Fines Those Who Block Emergency Vehicles