Saudi Arabia’s household net worth at $772 bln: report

The total household net worth of Saudi Arabia is estimated at $772 billion, the highest in the Middle East region, according to Credit Suisse Research Institute’s 2017 Global Wealth Report.

Wealth per adult in the Kingdom is expected to reach $35,042 in 2017 from $23,507 in 2000, an increase of nearly 49 percent in the seven-year span.

The UAE comes second on the list in the Middle East region, with household wealth estimated at $603 billion. The net household wealth in Kuwait and Bahrain is estimated at $292 billion and $34 billion, respectively.

The combined wealth for the GCC nations stands at approximately $2.03 trillion this year, according to the report.

Meanwhile, globally, the total wealth rose by 6.4 percent or $16.7 trillion to $280 trillion, driven by equity and significant increases in non-financial wealth, Credit Suisse said.