### Summary
The wealth per adult in the UAE at the end of 2022 was $152,556, according to a global report. The UAE's total household wealth stood at $1.2 trillion, and the ratio of household debt to gross assets was 7.8%.
### Facts
- 💰 Total household wealth in the UAE at the end of 2022 was $1.2 trillion.
- 💸 Wealth per adult in the UAE at the end of 2022 was $152,556.
- 📉 The ratio of household debt to gross assets in the UAE in 2022 was 7.8%.
- 📈 Wealth per adult in the UAE grew by 18.7% in 2021 using current exchange rates and by 20.6% using smoothed exchange rates.
- 🔄 However, in 2022, the growth of wealth per adult in the UAE differed depending on exchange rates. It rose by 11.7% in current exchange rates and by only 4.1% using smoothed rates.
- 💼 The UAE hosts a high number of wealthy expatriate entrepreneurs, with an estimated 4,500 high net worth individuals relocating to the country in 2023.
- 🌍 Globally, total net private wealth fell by $11.3 trillion to $454.4 trillion at the end of 2022.
- 📊 Wealth declines in 2022 were mostly due to financial assets, while non-financial assets like real estate remained resilient.
- 🌍 Wealth losses were concentrated in wealthier regions like North America and Europe, with the United States, Japan, China, Canada, and Australia experiencing the largest losses.
- 📉 Wealth inequality also fell in 2022, with the wealth share of the global top 1% decreasing to 44.5%.
- 📈 Global median wealth increased by 3% in 2022, contrasting with the 3.6% fall in wealth per adult.
- 🔮 The report projects that global wealth will rise by 38% over the next five years, reaching $629 trillion by 2027. Wealth per adult is expected to reach $110,270, and the number of millionaires is forecasted to reach 86 million.
- 🗣️ Regarding the report, Iqbal Khan, president of global wealth management at UBS, emphasized its valuable insights, while Anthony Shorrocks, economist and report author, discussed the decline in wealth driven by high inflation and currency appreciation.
- 🔒 Nannette Hechler-Fayd’herbe, chief investment officer at Credit Suisse, highlighted the resilience of wealth during the pandemic but noted the reversal in 2022 due to inflation, rising interest rates, and currency depreciation. She expects global wealth to rise by 38% in the next five years.
The United Arab Emirates saw a 31.8% increase in revenue in 2022, supporting an overall fiscal surplus, as the country focuses on developing its non-oil sectors such as trade, tourism, manufacturing, logistics, and financial services.
