Dubai and Abu Dhabi among top destinations for next-generation wealth, Savills says

Dubai and Abu Dhabi have been identified as among the top ten destinations for next-generation wealth, according to London-based consultancy Savills. Despite geopolitical tensions and economic headwinds, the two emirates in the United Arab Emirates continue to attract a significant portion of the $84 trillion expected to be transferred between generations over the next two decades.

The UAE's government has implemented various initiatives to support economic and societal growth, including favorable tax environments, business-friendly policies, and substantial infrastructure investment, coupled with a sophisticated luxury offering. Dubai, in particular, boasts an entrepreneurial ecosystem, global connectivity, and an appealing lifestyle that attract international talent and capital.

Abu Dhabi rounds out the UAE's position as a compelling destination for globally mobile wealth through its expanding financial center, increasing family offices, and a high quality of life. According to Kelcie Sellers, associate director for world research at Savills, these factors are reinforcing the UAE's position as an attractive destination for global wealth.

Despite the challenges, wealth generation and the flow of new money to the UAE remain strong, with net wealth in the UAE projected to reach $6 trillion by the end of the decade, representing a growth of more than $2.3 trillion over the next five years.