UAE, the Home of Most Millionaires | Push Digits Chartered Accountants

UAE, the Home of Most Millionaires

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As indicated by ‘New World Wealth’, UAE will be the quickest developing GCC nation in terms of the performance of millionaires in the following 10 years.

Saudi Arabia and Qatar follow UAE in this field, and Jordan is said to be one of the quickest in this field of millionaires over this period as well. However, it will be hard to take down Turkey, which is currently in the second position.

There are approximately 460,000 tycoons living in the Middle East as of December 2014, and the amount of joined riches is worth $2.2 trillion, according to ‘New World Wealth’.

That amount is 48% of the total riches held in the region ($4.6 trillion). Nonetheless, a few nation projects are obliged by variables, including financial performance. The unrefined petroleum price has declined by more than 50% in the previous year (2014), and this can affect the economy for a short time.

WealthInsight discloses that, the number of rich people in UAE was 50,595 before the end of 2014, which grew from the number in 2010, which was 35,960. This denotes a development of 8.9%. Saudi Arabia had 49,168 tycoons, which is the greatest number in this region. On the other hand, Qatar’s figure was 34,785.


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