UAE set to create most millionaires - and most quickly - in GCC

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UAE set to create most millionaires - and most quickly - in GCC
Want to be rich? You’ll do well to be based in the UAE
By
  • Shuchita Kapur
Published Monday, June 01, 2015
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According to previous data released by WealthInsight, the rich club in the UAE stands at 50,595 by the end of 2014. (File)

The UAE is forecast to be the fastest-growing GCC country when it comes to millionaire performance over the next 10 years, according to ‘New World Wealth’.

Within the GCC, the UAE is followed by Qatar and Saudi Arabia. Talking about the Middle East, Jordan is expected to be the fastest-growing market for millionaires over this period even. However, the total number of millionaires is way less than Turkey, which features second on the list.

Data from ‘New World Wealth’ reveals there are approximately 460,000 millionaires living in the Middle East (as of December 2014), with combined wealth holdings of $2.2 trillion.

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