Bahrain’s private financial wealth ‘set to reach $98.7bln by 2026’

Bahrain’s private financial wealth ‘set to reach $98.7bln by 2026’

Bahrain’s private financial wealth is set to grow around 4 per cent every year to $98.7 billion by 2026, as per a new report by Boston Consulting Group (BCG).

Titled ‘Global Wealth 2022: Standing Still Is Not an Option’, the report however notes that the rate of growth will be slightly lower than the nearly 6pc annual expansion in wealth seen in the kingdom since 2016 to reach $81.6bn by end-2021.

The analysis also found that approximately 47pc of Bahrain’s wealth derived from the ultra high net worth (HNW) segment in 2021, which are individuals worth more than $100 million.

Financial wealth consists of cash and deposits; bonds, equities and investment fund shares; life insurance and pension; and other small asset classes and does not include real assets which comprise real estate including land owned by individuals, consumer durables and valuables, like non-monetary gold and other metals valued at current prices.

It also does not include liabilities that are made up of credit card loans, mortgage loans and other short and long-term loans.

Commenting on the outlook, Mustafa Bosca, managing director and partner at BCG, told the GDN: “We see the Middle East and Africa financial wealth growing year after year, including Bahrain, despite a