Millionaires flock to Dubai due to trade, connectivity

Published on : Saturday, April 20, 2019

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai said that to keep the citizen and residents happy is a part of the UAE’s policies turning it into a global hub.

He further wants to make Dubai and UAE a land of opportunities and magnet for investment.

 

Infact Dubai is a major beneficiary of changing global wealth trends in 2018.

 

 

According to the ‘Global Wealth Migration Report’ for 2019, developed recently by AfrAsia Bank and New World Wealth Dubai attracted over 1,000 millionaires from outside the country.

 

 

It has surpassing major cities like Los Angeles, Melbourne, Miami, New York, San Francisco and Sydney.

 

Dubai has a High-Net-Worth-Individuals (HNWIs) and is a prominent financial centre in the Middle East.

 

In 2018 around 2,000 HNWIs, each with at least $1 million worth of net assets, moved into the UAE. In 2018 the number of affluent migrants rose by two per cent as per the report.

 

The key elements that drove relocation included security , safety , high standards of living, education and healthcare.

 

Sultan Ali Rashed Lootah, chairman and managing director, co-founder, Relam Investment said that there is ease of doing business in Dubai. There are  favourable policies that encourage businesses to not only invest in Dubai, but also to make it their main and premium location for their operations.

 

Krishnan Ramachandran, CEO of Barjeel Geojit, said that the  unique advantage of Dubai is its diversity and its ability to satisfy the financial needs and requirements of investors from all over the world. There is a state of the art infrastructure in Dubai  for a range of iconic business, lifestyle and leisure choices for investors.

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