In the first part of this article, we explored Dubai's cultural diversity and the growing number of millionaires and the super-rich. However, the city's multicultural mix and tax advantages are only part of the story. Dubai has undergone a transformation in recent years that has made it one of the most attractive places for the wealthy and international investors. In this second part, we take a closer look at the reasons for the rise of the super-rich in Dubai and how this development is shaping the social and economic fabric of the city.

1. Luxury as a lifestyle: the attraction to the super-rich

In recent decades, Dubai has established itself as a mecca for luxury and wealth. The city's lifestyle attracts millionaires and billionaires from all over the world, who enjoy not only business but also personal benefits here.

a. Real estate boom and exclusive residential areas

The real estate industry in Dubai is one of the driving forces behind the city's prosperity. The impressive skyscrapers, luxurious residential complexes and exclusive neighborhoods such as Palm Jumeirah or Emirates Hills offer the super-rich the opportunity to live in some of the most expensive real estate in the world. These locations not only offer breathtaking views and first-class infrastructure, but also an environment in which like-minded people can live and do business.

Private villas on the Palm Islands, which are located directly by the sea and offer their residents absolute privacy, are particularly popular. These properties attract not only wealthy business people, but also celebrities and international investors who use Dubai as a second home or vacation residence.

b. Exclusive access to luxury brands and yachts

Dubai is known for its luxurious shopping centers like the Dubai Mall and the Mall of the Emirateswhich are characterized by a huge range of designer and luxury brands. But this is only part of the luxurious lifestyle in the city. Wealthy residents and visitors to Dubai have access to bespoke luxury items that are often only accessible to the elite - from bespoke watches and jewelry to luxury cars and yachts.

Dubai Harbour is home to some of the largest and most luxurious yachts in the world, and exclusive yachting events and parties are an integral part of the lifestyle of the city's super-rich. For many of the millionaires who move to Dubai, access to this luxury is one of the main attractions.

2. Dubai as an international financial center

Another key factor in the rise of millionaires and the super-rich in Dubai is the city's position as an international financial center. With a strategic location between Europe, Asia and Africa, Dubai is an ideal place for global companies and investors looking to do business on an international scale.

a. Free trade zones and tax incentives

The Free trade zones Dubai offers significant benefits to international companies, including 100 % foreign ownership and tax exemption on corporate profits. These tax incentives have made Dubai a hotspot for entrepreneurs and companies operating in global markets. Companies can build their businesses here in a stable and tax-friendly environment while gaining access to markets in the Middle East and beyond.

b. Tax haven for the wealthy

Dubai is particularly attractive for wealthy individuals, as there are no Income tax there. This allows the super-rich to effectively protect and grow their wealth without having to pay high taxes on their income. This is one of the main reasons why more and more millionaires and billionaires are choosing Dubai as their place of residence. The city offers them the opportunity to live in a tax-friendly environment while having access to world-class infrastructure and a luxurious lifestyle.

3. The influence of millionaires and billionaires on the city

The growing number of millionaires and billionaires is having a significant impact on Dubai's development, both economically and socially. On the one hand, these wealthy residents and investors are bringing huge sums of money into the city, supporting the boom in real estate projects, luxury goods and services. On the other hand, the social fabric of the city is also changing due to the growing divide between the wealthy elite and the rest of the population.

a. Luxurious services and tailor-made experiences

With the rise of the super-rich, Dubai's service sector has also developed strongly. Bespoke services tailored to the needs of this clientele are booming. From private concierge services to exclusive golf clubs and bespoke vacation experiences, the city's affluence has led to a flourishing of services accessible only to the wealthiest residents and visitors.

b. Challenges for social integration

However, Dubai's rapid development and strong focus on luxury and wealth have also brought challenges. While a small part of the population lives in great affluence, many of the foreign workers are employed in lower-paid jobs, particularly in the construction and service sectors. The growing gap between the elite and the working population is leading to social tensions that, while currently under control, could pose a greater challenge in the future.

4. Inside Dubai: A look behind the scenes

The documentation "Inside Dubai" offers a fascinating insight into the lives of the rich and powerful in the city. It shows not only the opulent lifestyle of the super-rich, but also the enormous differences between the various social classes. The documentary sheds light on Dubai's shiny facade while revealing the challenges the city faces when it comes to reconciling wealth and social justice.

Through interviews with billionaires, businessmen and expats, "Inside Dubai" shows how the city has become home to some of the richest people in the world and the factors that have contributed to this. But the documentary also gives a voice to the less privileged members of society and shows that not everything in Dubai is as glamorous as it seems at first glance.

Conclusion: Dubai's wealth and cultural diversity will shape the future

Dubai is a city of extremes, where cultural diversity meets great wealth. The metropolis continues to attract people from all over the world, from professionals and entrepreneurs to millionaires and billionaires who enjoy their businesses and lifestyles here. But with the steady rise of prosperity in the city comes challenges. Social inequality and the balance between luxury and everyday life pose questions for the future of Dubai.

The documentation "Inside Dubai" offers a fascinating look at both sides of the coin - the overwhelming luxury of the super-rich and the challenges the city faces in creating an equitable and stable environment for all. What remains, however, is the impressive rise of Dubai as a global center, attracting people and wealth from all over the world.