Dubai: The Credit Suisse Research Institute has released its sixth annual Global Wealth Report. It reveals how the middle class has developed over the years.
According to the report Qatar and UAE are the two richest nations in the Middle East and North Africa (Mena) region.
The average adult here leads a comfortable life owning more than half a million dirhams.
The report also suggests global wealth has risen by $13 trillion since last year and people around the world will continue to get wealthier for the next few years.
The Mena region boasts of 330,000 millionaires. The numbers of millionaires are up by more than 240 per cent since 2000 and by 2020 the numbers are expected to reach a staggering 500,000.
Qatar takes the top spot in terms of fortunes acquired. Average wealth per adult is pegged at $157,000 (Dh576,653) in mid 2015.
In the UAE, tagged the second richest country in the region, average wealth per adult is estimated at $144,400 (Dh530,373). However, these numbers are after showing a decline of 0.3 per cent from a year ago.
Currently number there are 59,000 millionaires in UAE, and the numbers are expected to grow to 96,000 by 2020.
Following these two wealthy countries closely is Kuwait with an average wealth per adult of $113,400.
Bahrain saw a drop of 0.3 per cent when it came to private wealth, at the same time neighbours Saudi Arabia registered a growth of 0.9 per cent.
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