Saudi Arabia and UAE are expected to see big surge in millionaires

The total number of dollar millionaires are expected to rise 46.2 per cent globally in next five year while, Saudi Arabia and UAE are expected to witness a significant surge in millionaire population, according to sixth annual Global Wealth Report from The Credit Suisse Research Institute. The UAE currently has 59,000 dollar millionaires and is expected see a 62 per cent jump in that number to 96,000 by 2020, according to Credit Suisse. Saudi Arabia’s millionaire numbers are projected to surge from 50,000 in 2015 to 86,000, up 72 per cent by 2020. In terms of total wealth, Saudi Arabia is ranked first among GCC economies, with an estimated total wealth of $0.7 trillion (Dh2.6 trillion), closely followed by the UAE with an estimated wealth of $0.6 trillion.