Qatar’s financial wealth to grow by 3.9% annually – The Peninsula

Qatar’s financial wealth to grow by 3.9% annually – The Peninsula

Qatar’s financial wealth will experience a sturdy Compound Annual Growth Rate (CAGR) of 3.9 percent in new wealth, rising from $0.3 trillion to $0.4 trillion from 2021 - 2026, according to a new report by Boston Consulting Group (BCG).

The report titled, Global Wealth 2022: Standing Still Is Not an Option, shows equities and investment funds in Qatar make up the largest asset class at 46 percent of total personal wealth in 2021 whereas life insurance and pensions are expected to grow the fastest with a CAGR of 5.7 percent by 2026.

Whereas currency and deposits represent the second largest class at 40 percent of total personal wealth in 2021, bonds make up a mere 1 percent.

It is expected life insurance and pensions will become the third largest asset class over the next five years.

“We see the Middle East and Africa financial wealth growing year after year, including Qatar, despite a tremulous global market.

In fact, Qatar represented 4.2 percent of the Middle East and Africa’s financial wealth in 2021, having grown 3.1 percent every year since 2016 to $0.3 trillion,” said Mustafa Bosca, Managing Director and Partner, BCG.

In 2021, approximately 40 percent of Qatar’s wealth derived from Ultra High Net Worth (HNW)