E-Paper
Sign In
Dubai strengthens appeal to global wealthy as lifestyle value shines, says Julius Baer
Report says emirate offers competitive value across luxury real estate, travel and high-end goods, while strong wealth creation reinforces its position as a regional wealth hub
- PUBLISHED: Tue 7 Jul 2026, 11:38 AM UPDATED: Tue 7 Jul 2026, 11:41 AM
Dubai continues to strengthen its appeal as one of the world's leading destinations for affluent individuals, combining a premium lifestyle with competitive value, according to the Julius Baer Global Wealth and Lifestyle Report 2026, which highlights the emirate's resilience amid shifting global economic conditions.
The report ranks Dubai 14th globally in its Lifestyle Index, which compares the cost of maintaining a luxury lifestyle across 25 major cities. While the emirate slipped from seventh place last year, Julius Baer said the change reflects rising costs in competing global cities rather than any decline in Dubai's attractiveness or affordability.
Recommended For You
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The Swiss private bank said Dubai continues to offer exceptional value across several luxury categories, including prime residential property, premium automobiles, jewellery and business-class travel, making it increasingly attractive to internationally mobile high-net-worth individuals and families.
The report noted that the UAE dirham's peg to the US dollar has helped shield Dubai from the sharp currency-driven price increases experienced in several European and Asian financial centres, allowing residents to preserve purchasing power while maintaining access to world-class lifestyle offerings.
Julius Baer said Dubai's combination of modern infrastructure, business-friendly regulation, global connectivity and strategic location between East and West continues to reinforce its position as a preferred destination for international capital and talent.
Middle East wealth
The report also highlighted the Middle East as one of the world's strongest wealth-creation regions.
Around one-third of high-net-worth individuals in the region reported significant wealth accumulation over the past year, while 43 per cent said they had increased both investment activity and lifestyle spending, outperforming affluent individuals in Europe and the Americas.
Family wealth planning also remains a defining feature of the region. Julius Baer found that six in 10 wealthy individuals had reviewed succession planning during the past year, while 73 per cent have established formal family governance structures and 65 per cent now use family offices to manage wealth.
The report said Middle Eastern investors continue to favour long-term investment strategies, with real estate remaining the region's preferred asset class, alongside equities, cash holdings and alternative investments.
Long-term outlook
Julius Baer said the Gulf's long-term economic outlook continues to be underpinned by structural reforms and diversification.
Non-oil sectors now contribute around 73 per cent of GCC gross domestic product, reflecting the success of government strategies to reduce reliance on hydrocarbons and expand industries such as technology, tourism, financial services and advanced manufacturing.
Artificial intelligence is expected to become another major growth driver, with the report estimating AI could contribute as much as $320 billion to the Middle East economy by 2030 as governments continue investing through dedicated national strategies and sovereign-backed initiatives.
Rishabh Saksena, Co-Head of Global Asset Class Specialists at Julius Baer, said supportive residency policies, regulatory reforms and continued investment in future-focused sectors are expected to strengthen the Gulf's appeal to international investors and wealthy families.
"The Middle East, and the GCC in particular, presents a compelling combination of structural reform, fiscal strength and strategic ambition," he said.
The report also found that spending on luxury travel, fine dining and wellness continues to rise globally, areas where Dubai already enjoys a strong international reputation. Julius Baer said the emirate remains well positioned to benefit from long-term wealth migration as affluent individuals increasingly seek destinations that combine financial opportunity, quality of life and long-term stability.
