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October 07, 2020
The New World Wealth Report was issued by Capgemini, one of the world’s largest consulting companies. The UAE is among the top 10 countries that witnessed the highest inflows of millionaires last year and also becoming the wealthiest country in the region followed by Israel, Saudi Arabia and Turkey. Among the cities, Sydney was the largest recipient of millionaires followed by Geneva, Melbourne, Singapore and Dubai. Dubai received 1,300 millionaires, according to the report.
As of June 2020:
• the UAE was home to 79,000 millionaires, 3,400 multimillionaires with wealth of over $10 million and 12 billionaires. Their total wealth stood at $825 billion (Dh3.02 trillion);
• Dubai has 49,500 millionaires, 2,300 multimillionaires and 9 billionaires with total wealth at $490 billion (Dh1.8 trillion).
Over the past 20 years, the UAE has been one of the world’s biggest recipients of migrating millionaires. Globally, Australia attracted the highest number of millionaires last year at 12,000 followed by the US (10,800), Switzerland (4,000), Canada (2,200), Singapore (1,500), Israel (1,400), New Zealand (1,400), the UAE (1,300), Portugal (1,200) and Greece (1,100).
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