UAE emerges as wealthiest country in Mena

Dubai - The average person living in the UAE has net assets of approximately $99,000.

UAE  is the wealthiest country in the Middle East and Africa, with the total wealth held by all the individuals living in the country at $925 billion in net asset, a new study said on Tuesday.

According to the New World Wealth and Research & Markets report, the UAE is the largest wealth market in the Middle East and the 26th largest worldwide, in terms of total wealth held. It is also larger than any wealth market in Africa.

The UAE also ranks ahead of Poland, Turkey, Israel, South Africa, Portugal and New Zealand on this measure.
The table ranks UAE cities by total wealth.
In 2020, millionaire individuals in UAE which presently sets at 59,000 adults, is approximated to escalate by 62 per cent to 96,000.

The report covers wealth trends in the country over the past 10 years with projections for the next 10 years.

Key highlights:
1. The UAE is the largest wealth market in the Middle East and the 26th largest worldwide (in terms of total wealth held). Notably, it ranks ahead of the likes of Poland, Turkey, Israel, South Africa, Portugal and New Zealand on this measure.
2. People living in the UAE together hold $925 billion in net assets (or wealth). Around $470 billion (51%) of this is held by High-net-worth individuals (HNWIs). 
3. The average person living in the UAE has net assets of approximately $99,000 (wealth per capita). This is well above the worldwide average.
4. There are approximately 88,700 HNWIs living in the UAE, each with net assets of US$1 million or more.
5. There are approximately 3,800 multi-millionaires living in the UAE, each with net assets of $10 million or more.
6. There are 240 centi-millionaires living in the UAE, each with net assets of $100 million or more.
7. There are 13 billionaires living in the UAE, each with net assets of $1 billion or more.
(This report is the result of extensive research covering the wealth market in the UAE.)

• UAE