According to a recent Wealth-X study called the Billionaire Census 2023, Dubai has the highest number of billionaires in the Middle East. While Saudi Arabia is the region’s leader, UAE is the preferred destination for the super-rich.
Dubai’s strong charm
Despite a decline in the number of billionaires in the Middle East, their collective wealth has grown. This demonstrates the region’s ability to generate significant wealth even in difficult times.
The favorable business environment, strategic location, and vibrant economy have all contributed to Dubai’s rise as a billionaire hub.
The city’s appealing investment opportunities, excellent infrastructure, and thriving financial sector make it an appealing destination for the ultra-rich.
Here are the top eleven cities in the world with the most billionaires:
| City | Country | Number of Billionaires |
| New York | United States | 136 |
| Hong Kong | Hong Kong | 112 |
| San Francisco | United States | 84 |
| Moscow | Russia | 76 |
| London | United Kingdom (UK) | 75 |
| Beijing | China | 61 |
| Los Angeles | United States | 58 |
| Singapore | Singapore | 54 |
| Shenzhen | China | 42 |
| Mumbai | India | 39 |
| Dubai | United Arab Emirates (UAE) | 38 |
While Dubai shines in the Middle East, the United States (US) continues to lead the world in terms of billionaires, followed by China, Germany, and the United Kingdom. India is also one of the top countries with a large number of billionaires.
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