Tin du lịch Wealthy individuals flock to Dubai to seek refuge amid Middle Eastern conflicts.

After the waves of migration due to Covid-19 and the Russia-Ukraine conflict, Dubai is witnessing a surge of wealthy individuals seeking refuge out of concern for conflicts in the Middle East.​

Recently, Dubai has continued to emerge as a sanctuary for the wealthy amid the political instability in the Middle East, especially following the assassination of Hamas leader Ismail Haniyeh in Iran.
Dubai's economy grew by 3.2% year-on-year in the first quarter of 2023. In that, the finance and insurance sector increased by 5.6%, contributing 13.1% to the total GDP. Real estate and tourism grew by 3.7% and 3.8%, respectively, according to the nation's Statistics Center.

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According to Reuters, several asset management companies said that Dubai is emerging as a preferred destination for many entrepreneurs and wealthy families from around the world.
The economic recovery post-Covid-19, a neutral political stance, easy residency and business application conditions, convenient time zones, and tax exemptions are factors contributing to the Middle East attracting waves of wealthy individuals in recent years.
"Dubai is in a very unique position. We are inadvertently benefiting from the crises in the region," said Mr. Zhan Jochinke, CEO of the real estate consulting firm Property Monitor, to AP.
According to the real estate consulting company Knight Frank, demand from Chinese buyers has turned the Dubai real estate market into a "magnet" attracting wealthy individuals.
Knight Frank indicates that in the long term, this trend will position Dubai among the leading financial centers like New York, London, and Singapore.
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The streets of Dubai (Photo: Bloomberg).

According to expert Faisal Durrani, head of the Middle East and North Africa research team at Knight Frank, the office and residential real estate segments in Dubai are expected to increase in price over the next year due to high demand and limited supply.
"Dubai is like a magnet attracting wealthy individuals from around the world," Mr. Durrani said to SCMP.
This expert believes that transportation infrastructure, global connectivity, and progressive thinking have elevated Dubai's reputation and status globally.
"This is evidenced by the fact that high-net-worth individuals worldwide continue to seek to own second homes here or move to live in this area," he added.
In six months, thanks to the wave of wealthy migrations, property prices and tourism services in Dubai have continuously risen and consistently set new records. Specifically, luxury home prices have reached record levels.
Even the historical flood in April did not dampen this market. The value of luxury villas in Dubai increased by approximately 38% in the second quarter compared to the same period last year, according to real estate consulting firm ValuStrat.
Regarding tourism, Dubai International Airport welcomed a record 44.9 million passengers in the first half of this year. "We forecast that the number of passengers through the airport will reach 91.8 million this year, another record," said Mr. Paul Griffiths, CEO of Dubai Airports authority, to AP.
Approximately 9.3 million tourists visited Dubai in the first half of the year, surpassing pre-pandemic levels, according to research from Emirates NBD bank. Dubai also plans to put a new airport into operation, costing nearly $35 billion, in the next decade.
However, some analysts are questioning the sustainability of the continuously record-setting markets in Dubai. Some experts warn that an oversupply situation in the housing sector could slow down the market.
Ms. Tatjana Lescova, an analyst at S&P Global, noted that a large number of apartments built since 2021 will hit the market in 2025 and 2026. "At that time, we predict that the new supply will not be fully absorbed by the market and could lead to cyclical market slowdowns," she told AP.