UAE: A Prime Destination for High-Net-Worth Individuals

As the world shifts its financial centers, the UAE is rapidly establishing itself as a leading global wealth hub. The emirates have become particularly attractive to high-net-worth individuals (HNWIs), thanks to several advantageous factors including a business-friendly environment, a robust regulatory framework, and enduring political stability.

The Rise of the UAE as an HNWI Magnet

Recent research from the Capgemini Research Institute indicates that the UAE, alongside Singapore, Hong Kong, and Saudi Arabia, is becoming a prime alternative for affluent investors. These nations leverage advantageous tax policies and stable financial ecosystems, making them appealing choices for global wealth diversification.
The report suggests that next-gen HNWIs are keen on exploring investment opportunities in both traditional wealth hubs—like London and New York—and emerging places such as the UAE.

In the post-pandemic era, the UAE has seen record migration of millionaires from across the globe. According to Henley & Partners, the UAE attracted a remarkable 7,200 millionaires in 2024, a considerable increase from previous years, owing to factors like zero income tax and a world-class standard of living.

A Booming Wealth Management Hub

The UAE is positioning itself as a formidable player in the global wealth management sector. Both the UAE and Saudi Arabia are drafting regulations that support international investors, welcoming them with open arms.
Capgemini’s study highlights a shift in how HNWIs manage their wealth. Rather than concentrating their assets in traditional safe havens, affluent individuals are now adopting a multi-jurisdictional strategy, diversifying their portfolios to maximize opportunities and minimize risks.

The UAE’s net wealth is growing exponentially, reportedly reaching $2.9 trillion in 2023, a staggering increase of 10% from the previous year. This figure dwarfs the average regional and global growth rates in wealth, marking the UAE as an emerging powerhouse in financial growth.

The Influx of Wealth Managers

To capitalize on this wealth boom, both local and international wealth management firms are bolstering their teams. Many new firms have established offices in prestigious financial hubs like the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM). Notable developments include the expansion of industry giants such as BlackRock and Rothschild & Co., both of whom see vast potential in the growing affluent demographic in the UAE.

DIFC alone oversees a staggering $450 billion in private wealth, with access to an additional $3 trillion within an hour’s flight, thanks to Dubai’s strategic geographical location. The robust growth seen in the ADGM—where assets under management grew by 33% in the first quarter of 2025 compared to the previous year—further highlights the region’s appeal.

Next-Gen Millionaires Seek Higher Returns

Shifting attitudes among next-gen millionaires are reshaping wealth management practices. Research indicates that 88% of relationship managers observe that younger investors show a pronounced interest in alternative investment opportunities compared to previous generations, who focused predominantly on wealth preservation.

This advantageous shift indicates that next-gen HNWIs can be more risk-oriented, often investing in asset classes like private equity and cryptocurrency. Wealth management firms are responding by modernizing their approaches to include AI-driven tools and digital engagement strategies that cater specifically to this younger, increasingly global clientele.

Conclusion

These structural changes point toward a landscape where HNWIs are not just looking for safe investments but are also seeking opportunities in innovative and high-growth asset classes. Wealth management firms now face the challenge of adapting to these evolving trends to maintain relevance and attract a younger clientele seeking diverse and profitable investment strategies. From evolving regulatory frameworks to the influx of wealth management talent, the UAE is undoubtedly carving a niche for itself as a premier destination for the world’s affluent families and investors.

Author: Waheed Abbas
Profile: Waheed Abbas is the Assistant Editor at Khaleej Times, covering real estate, aviation, and various business stories that drive the narrative of the UAE’s burgeoning wealth landscape.