The Middle East is rapidly becoming a preferred destination for high-net-worth individuals (HNWIs) worldwide.
In 2024 alone, the UAE welcomed 7,200 new millionaires, raising its resident HNWI count to 134,000. Dubai, in particular, stood out with a record 435 luxury property sales above US$10 million in 2024, followed by 111 such sales in Q1 2025.
Wealthy individuals from diverse backgrounds are choosing the Middle East as a second home, attracted by near-zero taxes, modern infrastructure, disciplined societies, and low crime rates.
While the UAE, especially Dubai, remains the top choice, Saudi Arabia is also witnessing interest, particularly from Muslim HNWIs keen to invest near religious sites. Qatar, Bahrain, and Oman are similarly gaining traction.
Investment in the UAE’s luxury residential sector surged 76% in 2024, reaching US$4.4 billion.
The region is also seeing a boom in family offices, driven by the anticipated intergenerational transfer of US$84 trillion in global wealth over the next two decades.
Golden Visas and similar incentives offered by Gulf countries are further fueling this trend, making the Middle East a global hub for affluent individuals seeking long-term residency and elite investment opportunities.
If Donald Trump's Golden Card program for the USA faces any real challenge, it will come from the Middle East.
The American Golden Visa that costs around US$5 Million must compete with the increasingly attractive offers extended to HNWIs by Middle Eastern countries.
