The region is now firmly acknowledged as a global hub for wealth and investment. Indeed, two of the GCC’s nations are among the globe’s top ten wealth booking centres and are well set on the road to joining the world leaders.
As the market for providing services to HNWIs from our region, and those relocating to and/or investing here continues to grow, so too are those specialised services providers and financial institutions establishing their business here, or dedicating significantly more of their resources, skills and personnel to ensure they benefit from this growth.
Contributing to this expansion is the increasing application of technology and AI to the market, fuelled by its widespread adoption across retail banking and asset management and the desire to serve the upcoming younger wealth inheriting generations who have grown up with digital environments.
The long-established tradition of SMEs and family businesses here is now fizzing with creativity and growth, recognoised as vital to regional economies, well encouraged by governments and enjoying easier banking experiences, all adding to the pool of emerging and existing clients for family offices, private banks and providers of wealth management services.
So, the question is no longer whether the region will become a leading centre for wealth management and investment, we already have that answer. The questions now are how much the regional wealth market will grow, what are its numerous strengths and attractions, can the region provide the skilled personal and what role will our region now play in the development and influencing of wealth management here and around the world?
