The UAE ranked first worldwide in the number of ultra-rich people who flocked to it in 2022, according to the Personal Wealth Migration Report.
It also topped the most millionaires in the Middle East and North Africa (MENA) that year, with 109,500.
The report, which is issued by the British company Henley & Partners, highlighted that the UAE attracted 5,200 ultra-wealthy people last year.
It also indicated that the UAE dominated the global countries in the number of people with great wealth that they attracted over the course of 2022, becoming the only country in the world where the number of ultra-wealthy people who flocked to it during the past year reached or exceeded 5,000 people.
Juerg Steffen, CEO of Henley & Partners, commented: “Affluent families are extremely mobile, and their transnational movements can provide an early warning signal in terms of a country’s economic outlook and future country trends.”
In 2023, the UAE is forecasted to witness a reversal towards pre-pandemic figures, with a net inflow of 4,500 millionaire immigrants. This puts it just behind Australia, which is anticipated to lead with an estimated net value of 5,200.