13,000 join UAE's dollar millionaire resident base in 2024, says UBS

There has been an influx of Saudi, Indian, Chinese and UK high net worth individuals

- BY MANOJ NAIR Business Editor

An additional 13,000 made it to the ranks of UAE'S dollar millionaire resident base in 2024, according to the latest UBS 'Global wealth Report 2025', which is an increase of 5.8 per cent from the year before. A good number of these newly created millionaire base in the UAE came about from relocations, as has been the case for four years now.

"This year there has been some significant movement in the number of millionaires in many of parts of the world, both upwards and downwards," according to the Swiss bank's findings.

"Having looked at long-term trends, we concluded that wealth is far from static."