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Dubai and Abu Dhabi race to lure world's wealth managers

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Dubai and Abu Dhabi race to lure world's wealth managers

Abu Dhabi is making a name for itself as a desirable location for wealthy individuals and asset managers, rivaling Dubai as a leading financial center in the United Arab Emirates (UAE). While Dubai has traditionally been the region's financial hub, Abu Dhabi is actively diversifying its economy and leveraging its significant oil wealth to attract non-oil industries and investment. This shift has led to an influx of money managers and hedge funds, as well as major asset management firms setting up operations in Abu Dhabi. The city's regulatory environment and its ambition to become a global center for the crypto industry are also drawing investors. However, Dubai still maintains an advantage with its long-established international finance industry, vibrant entertainment scene, and iconic landmarks.

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