When Nik Storonsky, founder of Revolut, Europe’s most valuable startup with a valuation of more than $75 billion, decided to move his residency from the UK to the UAE, it made international headlines. Yet his relocation is just one example of a much broader trend.
A growing number of entrepreneurs, investors and ambitious professionals are leaving traditional hubs such as London, Frankfurt or Paris and heading to Dubai and Abu Dhabi. What draws them in is not a single factor but a combination of smart policies and favourable conditions that have turned this stretch of Gulf coastline into one of the most dynamic, secure and attractive places to live and work.
Taxation alone does not explain this shift. Many other jurisdictions offer low or zero income tax. What sets the UAE apart is the way it has built a functioning, agile and ambitious state. People who want to build are drawn to places that enable them to do so, and over the past two decades the UAE has positioned itself as exactly such a place.
For many who relocate, the most visible advantage is personal safety. According to this year’s “Crime and Safety Index” by Numbeo, Abu Dhabi has been ranked the safest city in the world for the ninth year in a row. That statistic translates into a daily reality that is hard to replicate elsewhere.
In Abu Dhabi, you can leave your wallet on the table without concern, children can play outside late into the evening, and women walk home at night with a level of security that is no longer taken for granted in many European cities. Safety has become a decisive factor for families and professionals considering relocation.
Security is part of a broader effort to make life not only safer but better. Over recent years, the UAE has climbed steadily in international liveability rankings, topping its region and closing in on established global leaders.
The government has invested heavily in urban quality: new parks, public spaces and cycling paths, clean streets, efficient services and reliable infrastructure. The country enjoys more than 3,500 hours of sunshine annually, and from Dubai or Abu Dhabi one can reach both the peaks of the Caucasus and the beaches of the Maldives in just four hours. These are not small lifestyle luxuries. They matter to people deciding where to live, work and raise their children.
Education and health care play a central role as well. The UAE has more than 200 international schools, and Khalifa University ranks among the world’s top 200 universities. Leading healthcare facilities such as Cleveland Clinic Abu Dhabi provide a level of treatment that easily competes with other world-class facilities.
The transformation of the UAE rests on more than its lifestyle appeal. It has been driven by a governance model designed to enable ambition. Regulations exist, but they are designed to create opportunities rather than obstacles. It is no coincidence that the UAE established its Ministry of Artificial Intelligence years before the EU reached a consensus on its own AI Act.
Just as significant is how the state supports business formation and investment. Visa procedures and company registrations can often be completed in less than 24 hours. About 88 per cent of the population are expatriates, creating a cosmopolitan and ambitious environment where talent attracts talent. Entrepreneurs and professionals who have grown frustrated with political stagnation and administrative delays elsewhere find an alternative here.
These conditions are reflected in economic performance. The UAE has become one of the most dynamic economies in the world, with robust gross domestic product growth and a deliberate diversification strategy that has expanded far beyond energy. Many other countries with oil and gas reserves have struggled to move beyond a resource-based economic model.
Under the leadership of President Sheikh Mohamed, the UAE has turned its natural wealth into a foundation for broader prosperity. Special economic zones such as the Dubai International Financial Centre and the Abu Dhabi Global Market have evolved into launchpads for global innovation. They combine an efficient regulatory environment with stable legal frameworks, attracting founders and investors in sectors including AI, clean technology, fintech and life sciences.
The result is visible in global mobility patterns. According to this year’s Henley and Partners Private Wealth Migration Report, nearly 10,000 High Net Worth Individuals are expected to relocate to the UAE this year, putting it at the top of the global list. The US follows with 7,500, Italy with 3,600 and Switzerland with 3,000. At the same time, several countries are losing talent: the UK faces an outflow of 16,500 HNWIs, China 7,800, France 800, Spain 500 and Germany 400. While wealth migration is only one part of the story, it is a powerful indicator of where people with options choose to live and invest.
Cities and countries that offer safety, quality of life, efficient governance and space for innovation will be the winners in this global competition. The UAE has understood this early and acted accordingly. The decision by Mr Storonsky and thousands of others to relocate to the UAE reflects a broader reality: talent gravitates towards places that work. As many European cities become less safe and their quality of life declines, other, more dynamic cities are stepping in to fill the gap. They attract talent with talent, innovation with freedom, and offer a secure environment for ambitious people from around the world.
Europe should not dismiss this shift or hide behind comforting myths. Instead, they should question their prejudices and take a closer look at what works in the UAE.
