Abu Dhabi boasts the highest number of households earning more than $250,000 in the region, according to a new “Wealth Report” from Knight Frank.
According to the report, Abu Dhabi has 270,686 households making more than a quarter million dollars, a number which is expected to grow seventh fastest globally to 426,890, overtaking London’s 382,807 by 2027.
In Dubai, 245,272 households were found to earn more than $250,000, which is expected to increase by 36,432 by 2027. In Saudi Arabia, Riyadh and Jeddah account for 198,789 and 130,849 households making above $250,000, respectively.
Globally, over the course of the next five years the Indonesian capital of Jakarta is set to grow the most, with 223,447 households set to break the $250,000 threshold, followed by Cairo with 152,643.
New York topped the table in every ranking, with London in second place overall. Of the top 20 cities, North American cities made up the top 10, with Asian cities – most notably Singapore – occupying five spots.
“This year’s index produced some very interesting results with regard to the projected growth of wealthy households around the world that will be exciting to track,” said Liam Bailey, global head of research at Knight Frank. “However, North America’s domination of the current household wealth tables is unequivocal. Although the economic powerhouses such as New York and London dominated the overall rankings again, it is interesting to note the power of other US cities.”
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