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UAE personal wealth crosses US$400b, millionaires control US$194b

Personal wealth in the UAE increased to US$400 billion between 2014 to 2019, with around 48.5 percent or US$194 billion being controlled by millionaires, the Boston Consulting Group said on Monday.

“Despite the current economic decline and precarious outlook globally for the coming years, estimates indicate the UAE will still record sustainable growth across several areas within the wealth segment,” said Mustafa Bosca, managing director and partner at BCG.” BCG’s findings suggest that the UAE represented…

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