Efforts to attract affluent foreign residents in the UK are being intensified by wealth hubs, particularly in response to potential tax reforms by the Labour government targeting non-domiciled individuals.
A recent event held at the Jumeirah hotel in London showcased the city's opulence, with rooms priced at over £6,000 per night, featuring marble bathrooms and stunning views.
Abu Dhabi is also competing in this endeavor, promoting its lower tax regime and other incentives to entice wealthy individuals away from the UK.
This competition among global cities to secure the financial elite, ranging from billionaires to high-earning bankers, is driven by increasing scrutiny and potential changes to their tax benefits in Britain.