UAE's Financial Wealth To Reach $1.3 Trillion By 2027, Says Report
- Publish date: Tuesday، 12 September 2023
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The Boston Consulting Group (BCG) has released a report that projects the UAE's financial wealth to grow by 5.5% annually from 2022 to 2027. This growth would see the nation's wealth increase from $1 trillion to $1.3 trillion over the period.
The report attributes the UAE's strong financial growth to a number of factors, including its diversified economy, its strategic location, and its commitment to innovation. The report also notes that the UAE is a popular destination for foreign investment, which is also contributing to the growth of its financial wealth.
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The BCG report is the latest in a series of reports that have highlighted the UAE's strong economic prospects. In 2022, the World Bank ranked the UAE as the 16th best country in the world to do business. The IMF has also forecast that the UAE's economy will grow by 3.8% in 2023.
Equities and investment funds made up 58% of the UAE's total personal wealth in 2022. This means that they were the most common asset class in the country. However, bonds are expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2022 to 2027. This means that bonds would become the second-largest asset class by 2027, behind equities and investment funds.