Millionaires in the UAE, Increasing

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Financial Times, citing WealthInsight reported that the number of millionaires in UnitedMillionaires in the UAE, Increasing Arab Emirates is increasing and is predicted to beat this year’s pre-financial crisis level.
According to WealthInsight, a growth of 13.5% to 54,600 numbers of millionaires in the country is expected by the end of 2013.
The report also forecasted that by 2017, the number of millionaires will jump 34 per cent to 69,000, with their wealth rising 48 per cent to $269bn.
In 2007 and 2012, the numbers plunged at 8% as the UAE’s nominal per capita gross domestic product had “a far more dramatic decline than the world average”, the report added.
In Abu Dhabi most millionaires work in the energy sector while in Dubai, the well-off came from different sectors, including real estate and financial services, WealthInsight stated.