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

Dubai and Abu Dhabi have secured top positions as preferred cities for the next generation of wealthy individuals, according to a report by Savills. The UAE's capital cities were ranked eighth and tenth, respectively, among 10 destinations projected to attract a significant portion of the $84 trillion in wealth expected to transfer between generations over the next two decades.

Next-generation wealth refers to individuals under the age of 40 who have inherited substantial wealth or have achieved it through entrepreneurial endeavors.

The rankings were based on various factors, including Dubai's entrepreneurial ecosystem, global connectivity, and lifestyle appeal, while Abu Dhabi's growing financial center, expanding economic opportunities, and high quality of life were highlighted. The UAE's position as a compelling destination for globally mobile wealth is reinforced by its favorable tax environment, business-friendly policies, significant infrastructure investment, and a sophisticated luxury offering.

Despite geopolitical tensions and economic challenges, wealth generation and the inflow of new funds to the UAE continue. According to a report by Boston Consulting Group, net wealth in the UAE is projected to reach $6 trillion by the end of the decade, with an annual growth rate of 10.6 percent. In the five years leading up to the end of 2030, net wealth in the UAE is expected to increase by more than $2.3 trillion.

New York topped the Savills list, followed by Miami, London, San Francisco, Los Angeles, Singapore, Hong Kong, and Monaco at ninth. Among the Gulf cities, Dubai and Abu Dhabi were the only ones to make the list, ranking among the top 100 destinations worldwide. Cities in Europe, the Middle East, and Africa accounted for 16 of the index's top 30 locations, driven by factors such as lifestyle, sporting events, and major golf, tennis tournaments, and Formula One races.

Dubai ranked first in the EMEA region for the number of sporting events, while Abu Dhabi, home to the season-ending Formula One race, placed sixth. The report emphasizes that global wealth continues to grow rapidly, with total personal wealth increasing by nearly 11 percent in 2025, creating about one million more millionaires. Additionally, the number of ultra-high net worth individuals, those with a net worth of $30 million or more, has grown to over 510,800, holding around $60 trillion in combined wealth.