UAE – Mubasher: The UAE attracted more than 2,000 millionaires from outside the GCC country, each with at least $1 million worth of net assets, during the full-year 2018, according to a report released by AfrAsia Bank and New World Wealth.
The number of wealthy migrants in the UAE increased by 2% over the course of the previous year, compared a year ago, the report said.
The 2019 'Global Wealth Migration Report' found that nearly 108,000 millionaires migrated last year, compared to 95,000 in 2017.
China saw a mass exodus of 15,000 millionaires in 2018, the most significant of any country in the world, followed by Russia, which saw an exodus of about 7000 millionaires, AfrAsia Bank and New World Wealth said in the report.
In 2019, Dubai was able to attract up to 1,000 millionaires ourpacing major cities like Los Angeles, Melbourne, Miami, New York, San Francisco, and Sydney, according to the 2019 “Global Wealth Migration Report”.
The report noted that those millionaires are searching for key elements to move outside their nations represented in security and safety, modern lifestyle, high standards of living, better educational opportunities, and healthcare.
It is worth noting that the UAE is home for more than 200 nationalities, providing high-quality tourism facilities, service levels, and entertainment offerings.