Number of millionaires in the UAE on the rise
The number of millionaires in the UAE has gone up to 52,800 in 2004 from 47,000 in 2003 and 45,000 in 2002, a rise of 12.3 percent, according to the 2005 World Wealth Report by Merrill Lynch. The reports indicates that at least one per cent of the population in the UAE belongs to the millionaire category.
According to the report, the Middle East has the highest concentration of financial wealth in the world. The number of high net worth individuals (HNWIs) in the Middle East grew by 9.5 percent, well ahead of 2003.
The UAE's per capita GDP was poised to have reached $19,795 last year. The UAE ranks second among Arab countries after Qatar in terms of per capita GDP.