- Hamdan bin Mohammed: "The
leadership’s clear vision for the future has transformed the UAE into a
leading global lifestyle and business destination”
- More than 1,000 millionaires chose to move to Dubai in 2018
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai said that the UAE has been able to create a robust investment and economic environment due to the clear vision of the country’s leaders. Their keenness to ensure high levels of happiness for residents, visitors and investors, and create a supportive environment for ideas and innovation, have helped make the UAE a leading lifestyle and business destination.
HH Sheikh Mohammed bin Rashid Al Maktoum, VP and PM of the UAE and Ruler of Dubai seeks to make Dubai and the UAE a land of opportunity for talent and a magnet for investments that can benefit not only the region but all of humanity, Sheikh Hamdan added.
Sheikh Hamdan’s comments came on the back of a new report that shows Dubai was a major beneficiary of changing global wealth trends in 2018. The Global Wealth Migration Report for 2019, developed by AfrAsia Bank and New World Wealth, says that Dubai attracted more than 1,000 millionaires from outside the country, surpassing major cities like Los Angeles (US), Melbourne (Australia), Miami (US), New York (US), San Francisco (US) and Sydney (Australia).
The report described Dubai as the most prominent financial centre in the Middle East, and one of the safest cities in the region as well as a popular destination for high-net worth individuals (HNWIs) and wealthy expatriates. It also said that Dubai is an example of the power that business incentives have in encouraging business formation.
Approximately 2,000 HNWIs, each with at least US$1 million worth of net assets, moved into the UAE in 2018, boosting the local economy. The number of affluent migrants in the UAE rose 2% in 2018 compared to the previous year, according to the report.
The 2019 Global Wealth Migration Report said that global wealth migration saw an acceleration in 2018. Approximately 108,000 millionaires (HNWIs) migrated in 2018, compared to 95,000 in 2017. China saw a mass exodus of 15,000 millionaires in 2018, the most significant of any country in the world. India saw an exodus of about 7,000 millionaires, while Turkey saw 4,000.
The report also found that HNWIs migrate because they are looking for security and safety, modern lifestyle, high standards of living, better educational opportunities and healthcare. Driven by its success as a focal point for global trade, and as an important transportation hub, Dubai offers many advantages that make it a haven for the world's wealthy.
Based on an ethos of peaceful coexistence and tolerance, the UAE is home to people of over 200 nationalities. Its strong legislative framework provides high levels of safety and security while its infrastructure incudes high-quality tourism facilities, service levels and entertainment offerings. Dubai has built a global reputation as a city with a highly developed infrastructure, and attracts millionaires due to business incentives, robust foreign trade and international connectivity.
- More than 1,000 millionaires chose to move to Dubai in 2018
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai said that the UAE has been able to create a robust investment and economic environment due to the clear vision of the country’s leaders. Their keenness to ensure high levels of happiness for residents, visitors and investors, and create a supportive environment for ideas and innovation, have helped make the UAE a leading lifestyle and business destination.
HH Sheikh Mohammed bin Rashid Al Maktoum, VP and PM of the UAE and Ruler of Dubai seeks to make Dubai and the UAE a land of opportunity for talent and a magnet for investments that can benefit not only the region but all of humanity, Sheikh Hamdan added.
Sheikh Hamdan’s comments came on the back of a new report that shows Dubai was a major beneficiary of changing global wealth trends in 2018. The Global Wealth Migration Report for 2019, developed by AfrAsia Bank and New World Wealth, says that Dubai attracted more than 1,000 millionaires from outside the country, surpassing major cities like Los Angeles (US), Melbourne (Australia), Miami (US), New York (US), San Francisco (US) and Sydney (Australia).
The report described Dubai as the most prominent financial centre in the Middle East, and one of the safest cities in the region as well as a popular destination for high-net worth individuals (HNWIs) and wealthy expatriates. It also said that Dubai is an example of the power that business incentives have in encouraging business formation.
Approximately 2,000 HNWIs, each with at least US$1 million worth of net assets, moved into the UAE in 2018, boosting the local economy. The number of affluent migrants in the UAE rose 2% in 2018 compared to the previous year, according to the report.
The 2019 Global Wealth Migration Report said that global wealth migration saw an acceleration in 2018. Approximately 108,000 millionaires (HNWIs) migrated in 2018, compared to 95,000 in 2017. China saw a mass exodus of 15,000 millionaires in 2018, the most significant of any country in the world. India saw an exodus of about 7,000 millionaires, while Turkey saw 4,000.
The report also found that HNWIs migrate because they are looking for security and safety, modern lifestyle, high standards of living, better educational opportunities and healthcare. Driven by its success as a focal point for global trade, and as an important transportation hub, Dubai offers many advantages that make it a haven for the world's wealthy.
Based on an ethos of peaceful coexistence and tolerance, the UAE is home to people of over 200 nationalities. Its strong legislative framework provides high levels of safety and security while its infrastructure incudes high-quality tourism facilities, service levels and entertainment offerings. Dubai has built a global reputation as a city with a highly developed infrastructure, and attracts millionaires due to business incentives, robust foreign trade and international connectivity.
