HNWIs inflow to help boost UAE financial wealth to $1 trillion by 2026

HNWIs inflow to help boost UAE financial wealth to $1 trillion by 2026

The UAE has emerged as an attractive destination for HNWIs following its successful strategy against the Covid-19 pandemic, latest data shows

Dubai recorded a 18 per cent growth in its HNWI population in the post pandemic era and secured first position in the Mena region.

Published: Sun 19 Feb 2023, 3:56 PM

The UAE has emerged as an attractive destination for high-net-worth individuals (HNWIs) that will help boost its financial wealth at a compound aggregate growth rate of 6.7 per cent to more than $1 trillion by 2026, says a latest report.

The emirate's financial wealth rose 20 per cent to $700 billion last year as it recorded a net inflow of more than 2,000 millionaires after its successful strategy to contain the Covid-19 pandemic.

"Unprecedented government stimulus packages, low-interest-rate environments, increased liquidity, stock market gains, and widespread Covid-19 vaccinations drove 2021 global economic resilience and accelerated HNWIs population and wealth growth last year," according to a report Dash Venture Labs.

Rise in HNWIs population

The report noted that global HNWI population expanded by 7.8 per cent and added 1.7 million new HNWIs in 2021. It further saw eight per cent increase in wealth to $6.4 trillion in 2021.

The emirate's financial wealth rose 20 per cent to