Mapping the Migration of the World’s Millionaires

by rayan on August 15, 2023

While most of the world is having a tough time combating the recession, Dubai has seen an economical boom like never before.
Dubai being the #1 attraction for millionaires ahead of Australia in 2022, it attracted +4000 millionaires and is forecasting to attract more in 2023.

What does this all mean ?

Economic Boost: The arrival of wealthy individuals can boost the local economy through increased spending on luxury goods, services, and real estate. This can create new business opportunities and job openings in various sectors.

Real Estate Demand: The demand for high-end properties may rise, driving growth in the real estate market and leading to potential property value appreciation.

Investments and Startups: Many millionaires may invest in existing businesses or start new ventures in Dubai, contributing to innovation and economic diversification.

Infrastructure Development: With increased investments and spending power, there may be additional funds available for infrastructure development, enhancing the city’s overall infrastructure and amenities.

Luxury Tourism: Dubai may attract more luxury travelers seeking exclusive experiences, leading to increased revenue for the hospitality and tourism industry.

Reference: https://lnkd.in/g3aYPZpN