RIYADH: Saudi Arabia’s financial wealth rose to $1.25 trillion in 2024, up 4.4 percent from a year earlier, underscoring steady balance-sheet expansion as the Kingdom’s investor base becomes more diversified, a new analysis showed.
Financial assets increased from $1.2 trillion in 2023, while total net wealth climbed to a record $3.7 trillion by the end of 2024, Boston Consulting Group said in its latest Global Wealth Report.
The analysis added that real assets represent the largest component of Saudi Arabia’s overall wealth and are expected to reach $2.94 trillion by 2029, marking a compound annual growth rate of 1.3 percent.
Earlier this month, the World Bank underscored Saudi Arabia’s financial resilience and upgraded its 2025 economic growth forecast for the Kingdom to 3.8 percent from an earlier estimate of 3.2 percent, citing renewed momentum in both oil and non-oil sectors.
In October, the International Monetary Fund also raised its economic growth forecast for the Kingdom to 4 percent for both 2025 and 2026.
