The reports also analyses market size of Middle Eastern HNWIs and UHNWIs, and highlights specific ways to target these key clients by looking at expansion, client and marketing strategy. It uses proprietary HNWI database comprising over 120,000 individuals.
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The wealth management sector in the Middle East is dynamic and complex, with significant growth in regionally made millionaires and billionaires, and wealthy expatriates. The HNWI population in the Gulf Cooperation Council (GCC) market at a CAGR of 8.08% from 136,195 in 2010 to 185,816 in 2014, and is projected to grow by a CAGR of 4.1% between 2015 and 2019. Middle Eastern HNWIs and UHNWIs' complex needs, family values, together with cultural differences brought by wealthy expatriates have become attractive to international private banks and domestic wealth management firms, leading to the development of sophisticated products and services. The UAE, Saudi Arabia, Kuwait and Qatar are the four main countries in the Gulf region where international private banks have expanded their operations and partnered with local firms. Nevertheless, both types of provider are competing with each other to gain market share through product differentiation, and by building robust strategies to target Middle Eastern HNWIs and UHNWIs, and wealthy expatriates. It is therefore becoming increasingly important for international and domestic wealth managers and private banks to be aware of the latest market trends and also understand Middle Eastern HNWIs and UHNWIs' complex needs.
The report covers the following areas:
- Attitudes of wealth mangers and private banks to targeting Middle Eastern HNWIs and UHNWIs.
- A snapshot of the Middle Eastern HNWI and UHNWI markets, including market size, and key forecast markets trends, drivers and barriers of the wealthy Middle Eastern market, and key regulatory issues.
- The markets covered include the UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain.
- Key financial product and service offerings in the Middle East, and the role of family offices in managing wealth of Middle Eastern HNWIs and UHNWIs.
Understand the complex needs of Middle Eastern HNWIs and UHNWIs, and know how best to target them. Make robust decisions in key areas such as expansion strategy, client strategy and marketing strategy to target Middle Eastern HNWIs and UHNWIs more effectively. Be informed about key market trends in financial product and service offerings in the GCC countries, and address each trend accordingly. Be aware of the attitudes of wealth managers and private bankers to the outlook for business strategies to target Middle Eastern HNWIs and UHNWIs.
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Table of Contents
1.1 What is this Report About?
1.2 Definitions and Scope
2 Executive Summary
3 Attitudes of Wealth Managers and Private Banks to Targeting Middle Eastern HNWIs and UHNWIs
4 Snapshot of the Middle Eastern HNWI and UHNWI Markets
4.1 A Comparison of Business Strategies for Targeting HNWIs and UHNWIs in the Middle East
4.2 The Gulf's HNWIs and UHNWIs Market Size and Key Market Trends
4.3 HNWI and UHNWI Demographic Trends
4.4 Drivers and Barriers of the HNWI and UHNWI Markets
4.5 Key Regulatory Issues
5 Middle East Markets: the UAE, Saudi Arabia, Kuwait, Qatar, Oman, Bahrain
5.1 Financial Products and Services Offerings
5.1.1 The UAE
5.1.2 Saudi Arabia
5.2 The Role of Family Office: Managing Wealth of HNWIs and UHNWIs
5.3 Business Strategies for Targeting HNWIs and UHNWIs
5.3.1 Expansion strategy
5.3.2 Client strategy
5.3.3 Marketing strategy
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