Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE ranks 12th in millionaire density in the world  Join our daily free Newsletter

MENAFN - Khaleej Times - 18/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) According to the report global private financial wealth grew by 14.

the uae has the world’s 12th highest density of millionaires with 33 out of every 1000 households holding private wealth of at least 1 million according to the boston consulting group’s (bcg) 14th annual global wealth management report.

qatar ranks first in the world with the highest density of millionaires with 175 households out of every 1000 boast millionaires. and general levels of wealth in the country are also impressive — robust wealth creation over the past years has led to a quantitative rise in millionaire households from 14.3 per cent in 2012 to 17.5 per cent in 2013. this rapid increase places qatar first in the world in terms of millionaire households per 1000.

kuwait is fifth with nine per cent or 90 households out of every 1000 millionaires. bahrain with 5.9 per cent millionaire density secured the sixth place. oman and saudi arabia rank 10th and 13th respectively.

qatar also ranks sixth globally by ultra-high-net-worth (uhnw) households defined as households with more than 100 million in private wealth. kuwait in turn is in seventh place while bahrain holds the 16th spot.

according to a report commissioned by the bcg global levels of private financial wealth grew 14.6 per cent from 132.7 trillion in 2012 to 152 trillion in 2013. the report observes that the outlook for private wealth is extremely positive and that those who already possess high levels of wealth will continue to get wealthier.

the study shows that switzerland comes second with 12.7 per cent of households having millionaires and singapore third with 10 per cent. the usa comes seventh with a proportional rating of 5.7 per cent millionaire households — though it ranks top in terms of the overall number of millionaire households with 7.1 million.

on a regional level the report ‘riding a wave of growth: global wealth 2014’ reveals that private financial wealth grew by 11.6 per cent to reach 5.2 trillion in 2013. key drivers were generally high savingrates and continued strong nominal gdp growth in oil-rich countries such as saudi arabia (13.4 per cent) kuwait (13.6 per cent) and the uae (12.8 per cent).

“as in all other regions equities were the strongest contributor” said markus massi partner and managing director the boston consulting group.

&dquo;the amount of wealth held in equities rose by 30.5 per cent across major mea markets compared with 6.4 per cent for bonds and 5.7 percent for cash and deposits. with a projected cagr of 6.5 per cent private wealth in the region will reach an estimated 7.2 trillion by the end of 2018 approximately a 3.6 per cent share of total global wealth.”

according to the reportglobal private financial wealth grew by 14.6 per cent in 2013 to reach a total of 152 trillion.

the rise was stronger than in 2012 when global wealth grew by 8.7 per cent. the key drivers for the second consecutive year were the performance of equity markets and the creation of new wealth in rapidly developing economies (rdes).

the total number of millionaire householdsreached 16.3 million in 2013 up strongly from 13.7 million in 2012 and representing 1.1 per cent of all households globally. the us had the highest number of millionaire households (7.1 million) as well as the highest number of new millionaires (1.1 million). robust wealth creation in china was reflected by its rise in millionaire households from 1.5 million in 2012 to 2.4 million in 2013. the number of millionaire households in japan fell from 1.5 million to 1.2 million driven by the 15 per cent fall in the yen against the dollar.

“the growth of private wealth accelerated across most regions in 2013 although it varied widely by market” said massi. “as in 2012 the asia-pacific region — excluding japan — represented the fastest-growing region worldwide continuing the trend of high growth in the ‘new world’. but substantial double-digit growth increases in private wealth were also witnessed in the traditional mature economies of the ‘old world’ particularly north america.”

private wealth booked across borders reached 8.9 trillion in 2013 an increase of 10.4 per cent over 2012 but below the increase in total global private wealth of 14.6 percent. as a result the share of offshore wealth declined slightly from 6.1 per cent to 5.9 per cent. offshore wealth is projected to grow at a solid cagr of 6.8 per cent to reach 12.4 trillion by the end of 2018 driven especially by investors in developing economies seeking higher levels of political and financial stability greater depth in wealth management products and expertise and geographic diversification.

— issacjohnkhaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 May 3 2016 - Saudi- President of Turkmenistan Performs UmrahSaudi Press Agency
(MENAFN - Saudi Press Agency) Makkah Rajab 26 1437 May 3 2016 SPA -- President Gurbanguly Berdimuhamedov of Turkmenistan and his accompanying delegation performed Umrah rites heree yesterday. At ...

 May 3 2016 - Saudi- Turkmenistan's President Arrives in MadinahSaudi Press Agency
(MENAFN - Saudi Press Agency) Madinah Rajab 26 1437 May 03 2016 SPA -- President Gurbanguly Berdimuhamedov of Republic of Turkmenistan arrived in Madinah today to pay a visit and pray at the ...

 May 3 2016 - Saudi- Turkmenistan's President Leaves MadinahSaudi Press Agency
(MENAFN - Saudi Press Agency) Madinah Rajab 26 1437 May 03 2016 SPA -- President Gurbanguly Berdimuhamedov of Republic of Turkmenistan left Madinah today. At Prince Mohammed bin Abdulaziz ...

 May 3 2016 - Saudi- Custodian of the Two Holy Mosques Receives President of Burkina Faso Holds Luncheon in his HonorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh Rajab 26 1437 May 3 2016 SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received at Al-Yamamah palace here today President Roch ...

 May 3 2016 - Stuttgart Germany Rajab 26 1437 May 03 2016 SPA -- A US soldier has been killed in fighting near the Iraqi city of Erbil US Defence Secretary Ash Carter said Tuesday during a visit to the southern German city of Stuttgart dpa reported.Saudi Press Agency
(MENAFN - Saudi Press Agency) The soldier who was part of the US-led military coalition against the ISIS extremist group died in combat but the exact circumstances of his death are not yet known ...

 May 3 2016 - Qatar- A hot day with temperature approximately 40 degreeThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Tuesday inshore will be hot during the day with slight dust at places at times and some clouds offshore will be hazy ...

 May 3 2016 - UAE- Jafza s trade with Netherlands reaches US732 millionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 3rd May 2016 (WAM) -- The number of Dutch companies represented in the Jebel Ali Free Zone Jafza has grown steadily over the past few years up to 105 ...

 May 3 2016 - Saudi FM warns of dangerous situation in SyriaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) GENEVA 3rd May 2016 (WAM) -- Saudi Foreign Minister Adel Al Jubeir warned of the danger of the situation in Syria pointing out that unless there was a ...

 May 3 2016 - Oil price upward trend to continue: Kuwait Petroleum InternationalEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) BRUSSELS 3rd May 2016 (WAM) -- Bakheet Al-Rashidi President and CEO of Kuwait Petroleum International KPI also known as Q8 has said that the recent upward ...

 May 3 2016 - UAE- Children's National Medical Centre shares innovative insights in the treatment and diagnosis of cerebral palsy at Latifa HospitalEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 3rd May 2016 (WAM) -- A multi disciplinary team consisting of a paediatric physiatrist paediatric occupational therapist and paediatric physical ...

 May 3 2016 - Kuwait Cabinet condemns Syrian regime s airstrikes on civilian targets in AleppoEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT 2nd May 2016 (WAM) -- The Kuwaiti Cabinet has condemned the Syrian regime's continued airstrikes on civilian gathering places residential areas and ...

 May 3 2016 - Pope Francis Joe Biden praise efforts of UAE and Sultan Bin Khalifa Humanitarian and Scientific FoundationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ROME 3rd May 2016 (WAM) -- Pope Francis has praised the United Arab Emirates and the Sultan bin Khalifa Humanitarian and Scientific Foundation for their ...

 May 3 2016 - UAE- FNC delegation arrives in Amman to participate in WIP Global SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AMMAN 3rd May 2016 (WAM) -- Dr. Amal Abdullah Al Qubaisi Speaker of Federal National Council FNC has arrived in Jordan at the head of the UAE delegation to ...

 May 3 2016 - Lana Nusseibeh highlights UAE's crucial contributions on multilateral global issues at the UNEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 3rd May 2016 (WAM) -- Lana Nusseibeh Permanent Representative of the UAE to the United Nations has said that effective multilateral diplomacy ...

 May 3 2016 - UAE- RAK Ruler receives Bangladeshi Consul-GeneralEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) RAS AL-KHAIMAH 3rd May 2016 (WAM) -- H.H. Sheikh Saud bin Saqr Al Qasimi Supreme Council Member and Ruler of Ras al-Khaimah today received at his office in ...

 May 3 2016 - UAE- Amal Al Qubaisi meets former Vice President of European ParliamentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) BRUSSELS 3rd May 2016 (WAM) -- Dr. Amal Abdullah Al Qubaisi Speaker of the Federal National Council FNC and Silvana Koch-Mehrin former member of the ...

 May 3 2016 - UAE- Minister of Infrastructure Development issues decision on total tonnage of shipsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 3rd May 2016 (WAM) -- Dr. Abdullah bin Mohammed Belhaif Al Nuaimi Minister of Infrastructure Development Chairman of the Federal Transport ...

 May 3 2016 - UAE- Arab Interior Ministers Council calls for reconsideration of traffic safety strategiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) TUNISIA 3rd May 2016 (WAM) -- The Arab Interior Ministers Council has called for the reconsideration of Arab strategies programmes and plans to tackle the ...

 May 3 2016 - Maktoum bin Mohammed honours winners of Dubai Quality AwardEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 3rd May 2016 (WAM) -- H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum Deputy Ruler of Dubai and H.H. Mansour bin Mohammed bin Rashid Al Maktoum ...

 May 3 2016 - Jawaher Al Qasimi praises UAE's wise leadership for supporting children s rights and cancer patientsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SHARJAH 3rd May 2016 (WAM) -- H.H. Sheikha Jawaher bint Mohammed Al Qasimi Wife of H.H. the Ruler of Sharjah and Chairperson of the Supreme Council for ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help