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FINANCIAL NEWS
Saudi Arabia, UAE control 74 percent of GCC’s private wealth
17 Feb 2015
(MENAFN) For a compound annual growth rate (CAGR) of 17.5 percent and as of 2010, the GCC market doubled its total private wealth from USD1.1 trillion to USD2.2 trillion, Saudi Gazette reported.
Today, studies show that there are between 1.5 million and 1.6 million wealthy households in the GCC with total investable assets of around USD2.2 trillion.
Saudi Arabia dominates in having most of the region’s private wealth with 44 percent. The UAE also made significant gains in private wealth rates with a jump from 24 percent to 30 percent from 2009 to 2013.
The two countries combined control 74 percent of the region’s private wealth, up from 71 percent in 2009.
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