Recent tensions in the Middle East are unlikely to derail the Gulf’s long-term trajectory as one of the world’s leading destinations for international wealth.
Prior to the recent conflict, the Gulf – and the UAE in particular – was on a meteoric rise, rapidly establishing itself as one of the world’s pre-eminent financial centres in touching distance of Hong Kong and Singapore. A defining feature of that rise has been its ability to attract entrepreneurs, business owners and younger HNWs looking for a supportive base from which to build, grow and preserve wealth.
The data reflects that momentum. Financial wealth in the Middle East and Africa grew by 12.3% in 2025 to $9.2trn and is forecast to reach $13.1trn by 2030, driven by accelerating economic diversification and strong investment activity across the Gulf States.
The UAE has also been among the fastest-growing booking centres in recent years, with cross-border wealth increasing by 11.1% to $721bn in 2025. The rapid development of financial infrastructure in the Dubai International Financial Centre and the Abu Dhabi Global Market has helped power this growth.
While geopolitical tensions have increased uncertainty across the region and may cause some internationally mobile wealthy individuals to delay relocation plans, any pause is likely to prove temporary.
The Gulf has spent years establishing itself as a world-class international wealth hub and the structural advantages behind that success remain firmly in place. These include attractive tax regimes, a business-friendly environment, strong lifestyle appeal, political stability in key Gulf states, world-class infrastructure and sophisticated financial services ecosystems.
The region is also well placed to benefit from the great wealth transfer underway, with $83trn globally in assets projected to pass down to younger generations over the next two decades. It stands to gain from younger HWNs who are far more internationally mobile than their parents and more willing to relocate in search of opportunity, lifestyle and favourable policy environments.
This is especially true as Western governments grapple with ageing populations, weak productivity, rising debt burdens and stretched public finances. To deal with these pressures, some are turning to wealthy individuals to raise tax revenues, prompting many to relocate to jurisdictions with more favourable tax regimes and a more welcoming environment for wealth.
The fundamental reasons why wealthy individuals are drawn to the Gulf remain firmly in place. While some governments across the West are driving wealth creators away, others are competing aggressively to attract them to broaden their tax bases. The Gulf’s enduring advantages and highly welcoming approach leave it well positioned to attract HNWs and continue its rise as a leading global wealth hub.
Derek Gemmell is head of Middle East and Africa at Utmost
