Saudi women cash assets hit US$12 billion
Recent comments by an expert have indicated that Saudi women own cash assets worth US$12 billion. In addition, the personal wealth of women in the Gulf and theMiddle Eastis estimated at US$ 40 billion. The gulf women are an important part of the economy as they are involved in an investment of some US$ 500 billion.
These figures came in a lecture delivered by Michael Hoffman, Chairman and CEO of «Changing Our World». He spoke about the future and the aspirations for the new year especially regarding the financial resources and appropriate solutions at the international level.
Among others, Hoffman presented statistics about the enormous potential of investments managed by women around the world, which he estimated at some US$ 20 trillion, adding that 9% of the assets are owned by women and this rate is expected to rise during the current decade.
On the other hand,Saudi Arabiaranked the fourth largest economy in terms of total reserves at the end of 2010 with total reserves including gold of SR1.7 trillion, equivalent to US$445.1 billion. Hoffman added that during the first ten months of 2011, the total financial reserves of the Kingdom rose by 18 percent to SR1.97 trillion rials, equivalent to US$525.2 billion. (Source: www.yallafinance.com)
- Will terror attacks damper Arabs' appetite for European holidays?
- So cool it's hot: Saudi Arabia's $3.2B HVACR market driven by construction boom
- US, EU protectionist policies may be a blessing in disguise for GCC suppliers
- Dubai to Doha: How far can you stretch your dirham?
- OPEC's poor history of compliance will make production cut deal a challenge