RIYADH: Next-generation high-net-worth individuals consider the Middle East as their preferred investment destination, thanks to geopolitical security and economic stability, according to an analysis.
In its latest report, consulting firm Capgemini revealed that Saudi Arabia in particular is aggressively courting international investors and ultra-wealthy individuals, thanks to the Vision 2030 economic diversification program.
The findings by the Paris-based company align with the views shared by Henley & Partners in April, which said that Riyadh and Jeddah are among the fastest-growing cities in the world for millionaires.
According to Henley & Partners, more than 20,000 people with liquid investable wealth of $1 million or more are now based in the Saudi capital, while Jeddah is home to 10,400 millionaires.
Riyadh and Jeddah are among the fastest-growing cities in the world for millionaires. Shutterstock
