DUBAI: Dubai has been named one of the world\u2019s richest cities and the wealthiest in the Middle East, with the number of millionaires surging by nearly 80% over the last decade, according to a new report.<\/p>\n
As per the report, 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.<\/p>\n
According to the Henley\u2019s and Partners “Top 50 Cities for Millionaires” list, Dubai has ranked 21st overall with 72,500 millionaires.<\/p>\n
A report revealed that 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.<\/p>\n
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, the report added.<\/p>\n
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.<\/p>\n
New York\u2019s residents are worth more than $3 trillion, higher than the wealth of most G20 countries.<\/p>\n
The report has stated that the capital of the UAE, Abu Dhabi, is the world’s next major millionaire hotspot.<\/p>\n