FINANCIAL NEWS

UAE’s private wealth to post USD1tr by 2020

30 Jun 2016

(MENAFN) Private wealth in the UAE is predicted to record an annual growth rate of 14.1 percent to reach almost USD1tr by 2020.

Meanwhile, the growth was driven basically by cash and deposits, whereas between 2014 and 2015, the amount of wealth held in cash grew by 16.7 percent.

The UAE will show a solid growth in the coming five years, with the wealth breakdown expected to be 19.2 percent in equities.

In addition, the whole number of millionaire households in the country jumped by 8.5 percent last year, and will grow by another 7.9 percent by 2020.

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