The “Knight Frank” real estate company expected that the number of wealthy people in Saudi Arabia would increase by 10.4% next year, so that the Kingdom would lead the countries of the Middle East in the rate of increase in the number of the wealthy.
According to a report issued by the “Knight Frank” company specialized in real estate and wealth management, which is based in the British capital, London, the Middle East region ranked first in the world in the growth of the number of wealthy people in it, as their numbers increased by 16.9% during the past year 2022, and reached Their net assets are over $30 million.
The report said that Saudi Arabia will achieve an annual growth rate of 10.4% in the wealthy industry.
According to the report, India is also recording a rocket rise in the number of its wealthy, as the report expected the number of wealthy Indians to grow by 58.4% over the next five years.
The report predicted that the number of wealthy people in India would reach 19,119 in 2027, compared to 12,069 in 2022.
The number of billionaires in India is expected to rise to 195 in 2027, compared to 161 in 2022.
The number of the Indian population of high net worth, with assets of one million dollars and more, i.e. millionaires, will increase, to reach 1.65 million people within five years, compared to 797 thousand and 714 millionaires in India who were registered last year, which means that the number of millionaires In India, it will rise by 107% in just five years.
This article was originally published by RT.