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Dubai Joins the Global Elite: A Rising Hub for Millionaires

by THEFUTURE.TEAM

April 9, 2025

Dubai has cemented its status among the world’s wealth capitals, securing the 18th spot in the latest World’s Wealthiest Cities Report 2025 by Henley & Partners. With 81,200 resident millionaires, including 237 centimillionaires and 20 billionaires, the city has seen a staggering 102% millionaire growth over the past decade, making it the fastest climber in the top 50 rankings.

But Dubai isn’t stopping there. Alongside Abu Dhabi, which hosts 75 centimillionaires, the emirate is poised for another decade of explosive wealth creation. Analysts predict that both cities will more than double their centi-millionaire populations in the coming years, driven by investor-friendly policies, zero income taxes, and their evolution into global financial hubs.

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U.S. Cities Still Reign Supreme

The United States continues to dominate the rankings, with 11 cities making the Top 50 list. New York remains the world’s wealthiest city, boasting 384,500 high-net-worth individuals, including 818 centimillionaires and 66 billionaires.

The Bay Area, home to 342,400 millionaires, is closing the gap, now hosting more billionaires than New York—thanks to its stronghold on tech-driven wealth. Over the past decade, the region has seen an impressive 98% millionaire growth, outpaced only by Shenzhen, Hangzhou, and Dubai.

China And Asia’s Growing Wealth Hubs

Shenzhen, now ranked 28th, has emerged as China’s top tech-driven wealth hub, with 50,800 millionaires and an astounding 142% growth in the past decade. Hangzhou follows closely, securing 35th place with 108% millionaire growth. Meanwhile, Tokyo solidified its 3rd place position, benefiting from a surging Nikkei 225, while Singapore took 4th place with 242,400 millionaires.

London Falls, Los Angeles Rises

One of the biggest shifts in the ranking: Los Angeles overtook London, pushing the UK capital to 6th place with 215,700 millionaires. London and Moscow are the only two cities in the top 50 that lost millionaires over the past decade, with declines of 12% and 25%, respectively. Paris held steady in 7th place, while Hong Kong climbed to 8th, overtaking Sydney.

Where The Next Wave of Wealth Is Headed

Beyond the usual financial powerhouses, new millionaire hotspots are emerging.

Dubai and Abu Dhabi top the list of cities expected to see the fastest millionaire growth, while Delhi and Bengaluru are set for 100%+ growth as India’s tech ecosystem matures. Athens and Warsaw are also rising, fueled by surging inward wealth migration.

In Europe’s smaller hubs, destinations like St. Julian’s (Malta), Lugano (Switzerland), and Riga (Latvia) are leveraging investment migration programs to attract the next generation of ultra-high-net-worth individuals.

The Price of Prestige: The World’s Most Expensive Cities

Monaco remains the ultimate billionaire playground, where 40% of residents are millionaires, and prime real estate fetches over $38,800 per square meter. New York, Hong Kong, and London round out the top four, with Paris overtaking Sydney to claim 6th place on the list of the world’s most expensive cities.

As wealth creation accelerates across the globe, cities that offer investment freedom, legal stability, and world-class lifestyle options are emerging as the next wealth magnets. And Dubai is proving to be one of the most dynamic players in this global shift.

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EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.