The population of Dubai has grown by more than 100,000 year-to-date as per the latest figures from the Dubai Statistics Centre.

The rise in population is due to the elevated numbers of foreign workers, investors and professionals who headed to Dubai throughout 2023, due to higher returns on property investments, the launch of a series of residency permits and ease of doing business, amongst other factors.

Dubai’s population has grown by 100,240, Khaleej Times reports, to hit 3.65 million on 17 December 2023, compared to 3.55 million on 1 January 2023.

Furthermore, Dubai’s population expanded at a faster pace this year compared to 2022, with 71,495 new residents within the emirate last year.

Over the past two years, Dubai has attracted numerous high-net-worth individuals, professionals and investors, which has boosted job creation following massive job losses in 2020 due to the pandemic.

Indeed, over the last decade, as many as 1,500 millionaires relocated to Dubai from London, according to the New World Wealth report, whilst a further 250 are planning to move to the emirate this year.

Echoing these findings, the Henley Private Wealth Migration Report 2023 forecasts that 4,500 millionaires will relocate to the UAE this year, representing the second-highest migration behind Australia.

Furthermore, the UBS Billionaire Ambitions Report 2023 shows that five billionaires relocated to the Emirates in 2023, and two new millionaires became billionaires as residents’ wealth increased, fuelled by robust growth in the travel and tourism, retail and real estate sectors, as well as the economy as a whole.

The profile of the UAE and Dubai among global investors was bolstered further by events such as Expo 2020 and the COP28 summit, the Khaleej Times report goes on to add.

Moreover, the government introduced new residency permits, such as the Retirement Visa, Golden Visa, and Freelance Visa, to attract new residents.