Wealth-X Reveals US$ 1 Trillion Opportunity in the Middle East and Africa

SINGAPORE, July 12, 2011 /PRNewswire/ -- Wealth-X, the world's leading UHNW prospecting, intelligence and diligence solution, today announced the publication of its latest intelligence briefing, which highlights the tremendous opportunity present in the Middle East and Africa.

The economies of Egypt, Bahrain, Tunisia, Libya, Syria and Yemen are undergoing dramatic political, economic, and in some cases, security transformations. UHNW individuals in the Middle East and Africa are experiencing political instability that provides private wealth managers with a unique opportunity to assist the ultra rich community in times of income volatility.

Wealth-X's analysis of the UHNW population in the Middle East shows that Saudi Arabia, UAE, Kuwait, Israel and Qatar are the top five countries with the highest number of UHNW individuals. These countries are home to 68% of all Middle Eastern individuals representing a combined net worth of approximately US$ 575 billion. Wealth-X estimates a total of 4,425 ultra wealthy individuals in the Middle East and 2,400 individuals in Africa worth more than US$ 30 million. The Middle East and Africa together hold a combined total wealth of just over US$ 1 trillion, US$ 685 billion and US$ 320 billion respectively.

"The Middle East and Africa are two markets that offer private wealth and asset managers a valuable opportunity to increase assets under management," says Mykolas Rambus, CEO of Wealth-X. "Even in the wake of the political transition both regions are undergoing, it is essential to address cross-border activities and place renewed emphasis on income diversification."

For a copy of the full report, please visit: http://www.wealthx.com/index.php?id=whitepaper

ABOUT WEALTH-X

Wealth-X is the global leader in helping private wealth managers, luxury brands, not-for-profits and educational institutions prospect, understand and conduct wealth diligence on the UHNW segment. The firm's online business development solution is the worldwide standard for professionals working with the ultra affluent. Wealth-X is the international authority on UHNW individuals, including their wealth, income, passions, philanthropic interests, affiliations, politics, advisors, families and biographies.

SOURCE Wealth-X