UAE millionaire population jumps to 79,000
UAE's millionaire population rose from 68,000 in 2006 to 79,000 last year, making it one of the countries to record highest growth in personal wealth.
By PTI |
DUBAI: Buoyed by the economic boom sweeping the Gulf countries, UAE's millionaire population rose from 68,000 in 2006 to 79,000 last year, making it one of the countries to record highest growth in personal wealth, according to a report by a leading financial management firm.
The number of HNWI's (High Net Worth Individuals) in UAE now stands at 79,000 with a combined total wealth of USD 91 bn, while in Saudi Arabia it is 101,000, up from 90,000 in 2006, with a combined total wealth of USD 182 bn, the World Wealth Report by Merrill Lynch and Capgemini said.
Driven by market capitalisation growth in emerging economies, the wealth of the world's HNWIs increased 9.4 pc to USD 40.7 trillion in 2007, it said.
In the Middle East, the HNWI population had the highest gains, expanding by 15.6 pc, with a 17.5 pc gain in wealth.
"While rising oil prices helped growth rates in the oil exporting countries, real estate meltdown and the financial crisis affected wealth levels of American and European high networth individuals," said Amir Sadr, head of wealth management of Merrill Lynch.
The number of HNWI's (High Net Worth Individuals) in UAE now stands at 79,000 with a combined total wealth of USD 91 bn, while in Saudi Arabia it is 101,000, up from 90,000 in 2006, with a combined total wealth of USD 182 bn, the World Wealth Report by Merrill Lynch and Capgemini said.
Driven by market capitalisation growth in emerging economies, the wealth of the world's HNWIs increased 9.4 pc to USD 40.7 trillion in 2007, it said.
In the Middle East, the HNWI population had the highest gains, expanding by 15.6 pc, with a 17.5 pc gain in wealth.
"While rising oil prices helped growth rates in the oil exporting countries, real estate meltdown and the financial crisis affected wealth levels of American and European high networth individuals," said Amir Sadr, head of wealth management of Merrill Lynch.
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