UAE’s financial wealth expected to surge to $1tn by 2026 – The National
- Date: 27-Jul-2022
- Source: The National
- Sector:Financial Markets
- Country:UAE
UAE’s financial wealth expected to surge to $1tn by 2026 – The National
The UAE’s financial wealth is expected to accelerate at a compound annual rate of 6.7 per cent to reach $1 trillion in 2026 from $700 billion last year, driven by growth in both financial and real assets, a new report by management consultancy Boston Consulting Group (BCG) has said.
Global financial wealth rose by 10.6 per cent in 2021 to $530tn, recording the fastest growth in more than a decade, the management consultancy said on Wednesday.
Financial wealth in the UAE grew by an annual 20 per cent last year compared with 11 per cent globally and the Emirates recorded a net inflow of more than 2,000 millionaires, which helped the country to contribute 30 per cent of the total financial wealth in the GCC, BCG's Global Wealth 2022: Standing Still Is Not an Option report said.
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