An influx of high-net-worth individuals to the UAE is expected to boost the country’s financial wealth beyond US$1 trillion within the next three years, suggests a recently published report.
According to US-based Dash Venture Labs, financial wealth in the UAE rose by 20% to $700 billion.
There was also a net inflow of more than 2,000 millionaires, as the UAE’s recovery from the Covid pandemic helped to attract the ultra-wealthy.
“Unprecedented government stimulus packages, low-interest-rate environments, increased liquidity, stock market gains, and widespread Covid-19 vaccinations drove 2021 global economic resilience and accelerated HNWIs population and wealth growth last year,” stated the report.
The influx of millionaires has been especially apparent in Dubai, where there has been an 18% growth in its HNWI population in the post-pandemic era.
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