report by Boston Consulting Group

report by Boston Consulting Group

Posted on 21 September 2023

GCC’s Financial Wealth to Grow by 4.7% Annually, Reaching USD 3.5 Trillion by 2027

In a recent report by Boston Consulting Group, significant developments in the Gulf Cooperation Council’s (GCC countries are Saudi, #Oman, UAE, Qatar, Kuwait, Bahrain ) financial landscape have been unveiled. The GCC’s financial wealth is experiencing steady growth, projected to reach USD 3.5 trillion with a CAGR of 4.7% from 2022 to 2027. Notably, Ultra High Net Worth (UHNW) individuals contributed to 27% of the region’s wealth in 2022, playing a pivotal role in fostering #innovation and investment, thereby driving sustained growth. Real assets in the GCC exhibited robust growth, increasing by 4.2% annually to reach USD 5.2 trillion in 2022, with expectations to surge to USD 7.0 trillion by 2027. Simultaneously, the GCC’s liabilities sector witnessed substantial expansion, projected to reach USD 0.7 trillion by 2027. The report also provides valuable insights for wealth managers, emphasizing scalable client acquisition, private-market offerings, and AI integration for revenue, along with cost reduction strategies through process review and tech-based solutions. This data underscores the GCC’s resilience and its promising trajectory towards a more prosperous future, reaffirming our commitment to reaching new heights together! 

SOURCE&CREDITS: Mohamed Alzaabi _ Linkedin

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