European millionaires seek a safe harbour from populism

Small wonder that the United Arab Emirates (UAE), of which Dubai is the glitzy business hub, is forecast to draw a net 6,700 millionaires this year, according to Henley & Partners, a wealth consultancy. That is almost twice as many as are expected to head to America, the historic home of the world’s rich, with 5.5m residents worth $1m or more. Long a bolt-hole for rich Russians, Indians and Arabs from neighbouring countries, Dubai is now attracting a new group of mogul migrants: Europeans fleeing rising political uncertainty at home.