ALBAWABA- The United Arab Emirates (UAE) has taken the lead among Arab countries and secured the third global position in terms of the average surge in personal wealth held by adults over the last year.
According to the "Global Wealth Report 2023," released by Swiss bank Credit Suisse on Thursday, data reveals a minor upswing of just under $20,000 in the average personal wealth owned by adults in the UAE throughout the past year.
The report highlights that by the end of 2022, the average personal wealth per adult in the UAE reached approximately $152,556, marking an 11.7% increase from the end of 2021 when computed using prevailing exchange rates, and a 4.1% rise when assessed using constant exchange rates.
The report underlines that Norway secured the first rank with an average gain of $40,000 in personal wealth owned by its adult population. Singapore followed closely with a slightly lower average uptick of nearly $22,000.
According to a study by the American firm Henley & Partners, Dubai boasts more than 68,400 millionaires, along with 206 individuals holding wealth surpassing $100 million, and 15 billionaires with assets exceeding $1 billion.
