Mashable: The United Arab Emirates city of Dubai is the wealthiest in the Middle East according to a report.

According to The National News, a report by Henley & Partners and New World Wealth has found that Dubai is one of the 50 richest cities in the world and the wealthiest in the Middle East.

The Emirate is home to the Middle East’s highest concentration of resident millionaires at 72,500 and comes in the 21st spot as the wealthiest city in the world.

 Dubai: Wealth Capital of the Middle East 
 72,500 Millionaires: Dubai secures its position as the Middle East's wealthiest city, boasting an impressive 72,500 millionaires.

Source: The National

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As per Henley & Partners, which tracks private wealth and investment migration trends worldwide, and global intelligence provider New World Wealth, Dubai has reportedly recorded a 78 percent growth in its millionaire population over the past 10 years.

The research has also found out that the UAE city is also home to 212 centi-millionaires – people with a net worth of $100 million or more in investable assets, as well as 15 billionaires.

Meanwhile, Henley & Partners and New World Wealth report says that the UAE capital Abu Dhabi is the region’s next big millionaire hotspot with 22,700 high-net-worth people. The report is focused on people with a net worth of $1 million or more.

The report says Abu Dhabi has recorded a 75 percent growth rate in its millionaire population over the past decade. The UAE capital is also home to 68 centi-millionaires and 5 billionaires.

Tel Aviv is the only other Middle Eastern city that is ranked among the top 50 wealthiest cities globally with a millionaire population of 24,300.

Overall, New York City tops the list and has the highest concentration of resident millionaires at 349,500 worldwide. San Francisco Bay Area and Tokyo are ranked second and third, respectively.

Let’s take a look at the top 5 wealthiest cities in the Middle East with their millionaire population:

Dubai – 72,500
Tel Aviv – 24,300
Abu Dhabi – 22,700
Riyadh – 18,200
Jeddah – 7,500