Global wealth rankings: Casablanca, Dubai and Abu Dhabi among fastest-growing wealth hotspots

Henley & Partners, a leading institution, has recently released exclusive data revealing the world's richest and fastest-growing cities, focusing on the number of super-rich individuals residing in them. The report specifically highlights the remarkable growth of wealth in three Moroccan cities: Casablanca, Marrakech and Tangier. 

Casablanca, Morocco's economic engine, is the city with the highest number of millionaires in the country and the fifth in the Arab world. As reported by the media outlet Rue20, the city experienced a substantial increase of 28 per cent in the number of millionaires, with a total of 2,800 individuals owning fortunes in excess of one million dollars. Among them, 14 millionaires own more than $100 million, and two billionaires have an impressive net worth of $1 billion. 

Marrakech, known for its vibrant atmosphere, follows closely behind with a remarkable 55 per cent increase in wealthy residents. The city is now home to 900 millionaires, including eight individuals with more than $100 million and two billionaires. 

Tangier ranks third, with a remarkable 33 per cent increase in its wealthy population. The city has three millionaires, each with more than $100 million. 

In total, Morocco has 4,400 millionaires, defined as individuals with fortunes in excess of $1 million (equivalent to 10 million dirhams). 

While New York rightfully takes the crown of the world's richest city, with a staggering 340,000 millionaires, 58 billionaires and 724 individuals owning more than $100 million, several Arab cities are making their way up the global wealth rankings. 

As reported by BNN Breaking, Dubai, the economic jewel of the United Arab Emirates (UAE), impressively ranks 20th globally, with 68,400 millionaires, 15 billionaires and 206 individuals with a net worth of more than $100 million. 

Abu Dhabi, the UAE's capital, ranks 39th with 24,200 millionaires, reinforcing the region's growing financial clout. 

Doha, the vibrant capital of Qatar, ranks 44th globally and third in the Arab world, with 21,500 millionaires and 48 individuals with fortunes in excess of $100 million. 

Riyadh, the capital of Saudi Arabia, is the fourth richest city in the Arab world and 47th in the world, with more than 18,100 millionaires, eight billionaires and 63 high net worth individuals. 

Cairo, Egypt's bustling capital, ranks fifth in the Arab world, with 7,400 millionaires, five billionaires and 27 individuals with fortunes in excess of $100 million. 

Finally, Sharjah, one of the emirates of the UAE, stands out with an impressive 84% increase in the number of millionaires over the last decade, securing seventh place in the world, with 3,800 individuals possessing considerable wealth. 

While New York continues to lead the global wealth rankings, Arab cities, including Casablanca, show significant growth in their affluent populations, contributing to the region's economic prominence.