UBS: The world’s super-rich are relocating to the UAE to expand their wealth

UAE Emerges as Key Destination for Ultra-Wealthy, UBS Report Reveals

The UAE is becoming a popular location for the ultra-rich seeking to increase their wealth, according to a recent UBS analysis that indicates a notable increase in billionaire emigration worldwide. The UAE has drawn significant capital from the richest people in the globe in recent years, thanks to its advantageous wealth transfer regulations.

According to UBS, billionaires in the Middle East and Africa (MEA) region saw a 39.5% increase in wealth, reaching $138.7 billion. The number of billionaires in the UAE alone grew to 18 in 2024, underscoring the country’s rising status in global wealth migration.

Additionally, according to UBS, the number of billionaires in the EMEA region increased from 70 to 728, and their wealth increased by 17% to $3.7 trillion. The number of billionaires worldwide increased to 2,682 from 2,544 the year before, and their combined wealth increased from $12 trillion to $14 trillion. This tendency occurs as a lot of billionaires, particularly those in older generations, search for ways to protect and increase their money outside of their home nations.

As billionaires flee, more than $400 billion in wealth has been shifted over the past four years, with the MEA area getting the largest part, according to Benjamin Cavalli, Head of Strategic Clients at UBS Global Wealth Management.

The ease of legal frameworks, robust healthcare and education systems, and a welcoming business environment are major contributors to the wealth shift, making the UAE, the US, and Switzerland popular destinations for the ultra-wealthy.

The growth of private family offices in the UAE is another indication of this wealth transfer. Joining an increasing trend of high-net-worth individuals looking for more growth prospects, notable individuals such as Nigerian tycoon Aliko Dangote and Egyptian billionaire Nassef Sawiris have moved their family offices to the United Arab Emirates.

Cavalli emphasized that family offices from Asia and Europe are increasingly setting up operations in the UAE, attracted by the country’s dynamic wealth creation environment and its position at the heart of innovation.

The UAE is poised to play an even bigger role in global wealth management as it continues to offer an attractive landscape for the world’s billionaires, attracting sophisticated investors looking to capitalize on new opportunities across a range of sectors. This shift highlights not only the UAE’s growing appeal, but also its growing role as a global hub for wealth, innovation and economic growth.