Dubai’s Population to Hit 4M by 2026 Due to Expat Influx
- Publish date: Thursday، 17 October 2024
- Related articles
- Rents in Dubai Expected to Fall After 18 Months
- UAE Salaries Expected to Drop with Growing Expat Population
- Dubai’s Population Crosses 3.6 Million for The First Time
Dubai’s population is projected to hit 4 million by 2026, driven by a surge in expatriate professionals seeking better job opportunities and investors looking to capitalize on the city’s booming economy, according to a report by global ratings agency S&P. By the end of 2023, the emirate's population reached 3.7 million, and this number is expected to grow significantly in the coming years.
Read More: 10 Mistakes Expats Make When Moving to Dubai
Economic Growth Fuels Migration
S&P analysts noted that Dubai's gross domestic product (GDP) per capita is estimated at $38,000 (Dh139,460) in 2024. The emirate’s status as a key financial, tourism, and trade hub has attracted significant investments across various sectors, which in turn has created more job opportunities. This steady economic growth has been a major factor in attracting professionals and wealthy investors from around the world.
Influx of Millionaires
Dubai has experienced a notable rise in its millionaire population, with 212 centi-millionaires and 72,500 millionaires calling the city home. This trend is expected to continue, with a projected 150% increase in the migration of ultra-wealthy individuals to Dubai, Abu Dhabi, and Sharjah between 2024 and 2040, according to Henley and Partners.
Dubai’s population has already grown by over 134,000 since the start of 2023, largely due to the influx of foreign talent and investors. Since January 2021, the city's population has increased by more than 378,000.