Dubai is the most preferred city for billionaires and 36 wealthiest people live here
- 17 Sep 2021
Gulf Today, Staff Reporter
The number of billionaires in Dubai rose to 36 last year, making the city the first regionally and 11th globally among the largest urban centres for billionaires in the year, according to the latest report issued by the American Wealth X Foundation.
New York tops the list with the most billionaires, with 124 people, followed by Hong Kong in second place with 111 billionaires, then San Francisco in third place with 81 billionaires.
At the level of countries, the UAE ranked 14th in the world in terms of the number of billionaires.
They numbered 50 billionaires, with a total fortune of $151 billion.
The number of billionaires in the country has increased by 6.4% last year, despite a 7.6% drop in wealth, according to Wealth X.
The US ranked first in the world with 927 billionaires with a total wealth of $3.709 trillion, then China in the second place with 410 billionaires and a total wealth of $1.303 trillion, followed by Germany in the third place with 174 billionaires with a fortune of $515 billion.
The Wealth X reported that the year 2020 witnessed the increase in the number of billionaires.
It also reported that for the first time, the number of billionaires in the world has exceeded 3,000, bringing their number to 3,204, that's an increase of 13.4 per cent, while their combined wealth amounted to $10 trillion, an increase of 5.7 per cent.
On the other hand, Dubai is full of a wide variety of world-class restaurants and hotels, offering all that is luxurious and elegant for those seeking a luxury lifestyle.
Dubai ranked 16th globally and first regionally among the most luxurious and luxurious cities around the world.
The study analyzes the number of hotels, restaurants and luxury fashion houses in each city, with Paris in the first place, followed by London second, then Tokyo in third place in terms of luxury.
The city has over 188 luxury locations, while it ranked highest in terms of the number of five-star hotels.
The study also indicated that the city has 112 luxury hotel complexes, including the 7-star Burj Al Arab, Palazzo Versace Dubai and the One & Only The Palm. Dubai scores highly for retail, with 76 international designer stores.