UAE wealth set to hit $6 trillion in 2030 despite short-term war volatility
Net wealth in the UAE is set to jump to $6 trillion by the end of this decade despite the short-term volatility caused by conflict in the Middle East , a new report has found. In the five years to the end of 2030, net wealth in the Emirates is set to increase by more than $2.3 trillion, at annual growth of 10.6 per cent, the report by global advisory firm Boston Consulting Group said. The sharp…
The United Arab Emirates is projected to see its wealth surge to $6 trillion by the end of the next decade, according to a report by global advisory firm Boston Consulting Group (BCG). This growth, driven by a rise in real assets and financial wealth, is expected to reach an annual rate of 10.6 percent by 2030. Last year alone, the UAE's net wealth grew by nearly 13 percent to reach $3.6 trillion, with real assets valued at $2.4 trillion and financial wealth at $1.4 trillion.
However, the report acknowledges short-term volatility caused by the ongoing Iran war, which introduced geopolitical uncertainty and oil-price fluctuations. Despite this, BCG expects a recovery towards the later years of the decade. The report attributes the UAE's potential for wealth creation to sovereign wealth strength, economic diversification, family-business liquidity events, and private capital activity.
Wealth managers are advised to remain cautious in the near term, but the region's wealth development story is anticipated to remain resilient. The country remains a magnet for the ultra-wealthy, global wealth managers, and large asset managers, offering opportunities for expansion and partnerships with global financial institutions.
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