The number of millionaires living in the Middle East and North Africa (MENA) has grown by 330 percent since 2000 and is expected to reach 460,000 by 2021, according to new research by the Credit Suisse Research Institute (CSRI).
Household wealth in the region reached an estimated $3.7 trillion in mid-2016, but average wealth in MENA has declined by 2.6 percent in the past 12 months to $13,300, the report said.
It added that Qatar recorded the highest average wealth per adult of $161,700 in mid-2016, while UAE followed closely with $151,100.
However, both countries saw a small drop of 0.4 percent and 0.3 percent respectively from the year-earlier period. Kuwait placed third in the region with an average wealth per adult of $119,000, up by 0.2 percent since last year. … see more