Dubai's Net Population 2018-2024 (in Millions)

Dubai has attracted 400,000 new residents since the start of the pandemic, driven by high salaried jobs, low taxes, safety, and proximity to major markets. Dubai’s current population stands at 3.8 million today, but is expected to surge to 5.8 million by 2040.

The growth has stoked the economy, propelling Dubai’s benchmark index into the ranks of the best global performers in 2024, but it has come at a cost. The increase in population has driven up property values and rents, while intensifying competition for school admissions.

Public transport is still limited across the sprawling city, and roads are now routinely experiencing traffic jams - though Dubai still fares better than London, New York and Riyadh on time lost per year in rush hour traffic (according to data from TomTom). Economists expect to see this growth continuing throughout the decade, and it is spurring the government of Dubai to invest heavily in urban development.