Dubai and Abu Dhabi have ranked among the world’s top 10 wealth hubs, as the UAE attracts wealthy young investors with its tax environment, business opportunities and lifestyle.
UAE cities attract next-generation wealth
Both cities feature in the top 10 of the Savills Next Generation Wealth Hubs Index, according to the property consultancy’s latest Spotlight on Wealth Trends report, published on October 14.
The index assesses more than 100 destinations based on their ability to attract and retain high-net-worth individuals under 40 who have recently accumulated or inherited wealth.
Dubai and Abu Dhabi are among only four locations in Europe, the Middle East and Africa (EMEA) to make the global top 10.
The report examines business conditions, governance, connectivity, local wealth clusters, lifestyle, taxation and wealth management.
Why wealthy investors are choosing the UAE
Dubai’s international connectivity, entrepreneurial environment and lifestyle continue to attract international talent and capital, while Abu Dhabi is strengthening its position through its growing financial centre and expanding family office community.
Both cities also benefit from business-friendly policies, infrastructure investment and established luxury markets.
Lifestyle is another factor in their appeal. According to Savills, Dubai and London host the highest number of prestige sporting events annually among the destinations analysed, while Abu Dhabi attracts international audiences through Formula 1 and major golf tournaments.
Rachael Kennerley, director of research at Savills Middle East, said: “Dubai and Abu Dhabi’s place in the global top 10 reflects how the UAE’s proposition has evolved to meet the priorities of the next generation of wealth,”
She added: “Across the GCC, succession planning is becoming more prominent, with families placing greater focus on governance, next-generation involvement and the long-term deployment of capital within the region.”
$84 trillion wealth transfer could reshape investment
The report points to a major transfer of wealth between generations over the coming decades, potentially influencing where wealthy individuals choose to live, invest and establish businesses.
“An estimated US$84 trillion is expected to transfer between generations over the next two decades,” said Kelcie Sellers, associate director at Savills World Research.
“As this wealth passes to a younger, more globally mobile and digitally connected generation, priorities are evolving, with lifestyle, education, wellness, and personal values increasingly influencing where they choose to live, invest and establish their business.”
These changing preferences are also supporting demand for branded residences, wellness-focused developments and ready-to-occupy properties suited to buyers who move between countries.
New York leads global wealth hub rankings
New York tops the global index, followed by Miami, London, San Francisco and Los Angeles. London leads the EMEA rankings, while Singapore ranks sixth globally and is the highest-placed Asia-Pacific location.
EMEA accounts for 16 of the global top 30 destinations, highlighting the continued importance of financial centres and lifestyle-focused markets in attracting wealthy individuals.
For the UAE, Dubai and Abu Dhabi’s rankings reflect their appeal to internationally mobile investors and families looking for business opportunities, wealth management services and a high quality of life. However, the report’s rankings assess the destinations’ overall attractiveness and do not indicate the amount of new investment either city will receive.
