Saudi’s total household wealth reached $2.3 trillion while that of the UAE amounted to $1.2 trillion in 2022, the latest Global Wealth Report estimated.
The discrepancy between population figures in the countries made it so that wealth per UAE adult was around $152,500 or 68% more than that in Saudi which reached nearly $91,000.
The percentage of financial assets out of gross assets is similar in both countries. At the end of 2021, financial assets made up 56.7% of gross assets in Saudi and 56.5% in the UAE, the report estimated.
The ratio of household debt to gross assets in 2022 was 5.5% in Saudi and 7.8% in the UAE.
Read: Global wealth set to rise by 38% over the next five years
Net worth per adult in Saudi rose 6.6 percent in USD terms in 2022.
The share of the top 1 percent in wealth was 37.6% in Saudi and 44.6% in the UAE.
Kuwait and Qatar
Credit Suisse’s annual global wealth report has revealed that Kuwait has surpassed $100,000, according to reports by Al-Rai Daily.
The average per capita wealth in Qatar is around $84,000.
The Global wealth report said worldwide family wealth experienced its first decline in 2022 since 2008, due to inflation and the strengthening of the dollar. These factors led to a drop of around $11.3 trillion in assets.
The report indicated that the overall per capita wealth across the globe decreased by 2.4 percent to $454.4 trillion.
The most significant portion of this decrease occurred in North America and Europe, where the loss totaled $10.9 trillion.
For more on the economy, click here.
