Saudi Arabia Wealth Report 2015

This report focuses on HNWI performance between the end of 2010 and the end of 2014. This gives a clear understanding of how well Saudi Arabia’s HNWIs have performed since the global financial crisis.

Saudi Arabia’s HNWIs include all individuals permanently living in the country, as well as Saudi Arabian-born individuals who have chosen to live elsewhere but still operate businesses in the country.

For the purposes of this report, wealth is defined as the net value of assets, which includes both financial holdings and tangible assets. This comprises alternative assets, real estate (excluding the primary residence), cash and deposits, fixed income, equities and business interests.

Despite unfavorable world market conditions, the wealth management market in Saudi Arabia is emerging. The market is attractive not only for local development, but also to foreign institutions, as it holds US$312 billion in wealth.

During the last decade, much of the growth in Saudi Arabia’s wealth management and private banking sector was driven by the volume of HNWIs and UHNWIs in Saudi Arabia.

Over the forecast period, experts expect private banks and institutions to reinforce and centralize their operations, and allocate more resources to better understand their client base and provide higher levels of service.

Scope

•An independent market sizing of Saudi Arabia’s HNWIs across five wealth bands.

•Historical HNWI volume, wealth and allocation trends from 2010 to 2014.

•Detail on HNWI volume, wealth and allocation forecasts to 2019.

•Analysis of HNWI and UHNWI asset allocations across 13 asset classes.

•A geographical breakdown of all foreign assets held by Saudi Arabian HNWIs.

•An alternative breakdown of liquid versus investable assets held by Saudi Arabia’s HNWIs.

•The total number of UHNWIs in major Saudi cities.

•The number of wealth managers operating in each of these cities.

•City ratings of wealth management saturation and potential.

•An overview of the largest private banks by assets under management.

•Detailed wealth management and family office information.

•Key insights into the drivers of HNWI wealth in Saudi Arabia.

Key Highlights

How many HNWIs are there in the Saudi Arabian wealth sector? What is the total wealth held by these Saudi HNWIs in US$ billion?

What is the increase in the Saudi Arabian HNWI population in 2014? How does this increase in HNWI numbers compare to that of the previous year?

What aspects of the Saudi wealth sector are forecast to improve their growth?

What is the forecast growth in Saudi Arabian HNWI numbers by 2019? What percentage increase in HNWI numbers does this projected growth represent?

By how much is HNWI wealth forecast to total in US$ billions by 2019? What is the percentage of growth illustrated by this total figure?

Reasons to buy

•Investigate a comprehensive analysis of the private banking and wealth management sector in Saudi Arabia and deliver your strategy to clients based on the most current market information.

•Analyze the competitive landscape and assess behavioral mapping of the Saudi Arabian wealth management industry, enabling you to identify overlap and growth opportunities that will deliver you the best return, whilst minimizing your associated risk.

•Identify the asset allocations of HNWIs and ultra-HNWIs, including projections of their volume, wealth and asset allocations to 2019. Identify those segments predicted to grow substantially over the forecast period and develop your product propositions accordingly.

•Evaluate detailed information on HNWI volumes in each major city in Saudi Arabia to precisely and efficiently target your prospects.

Companies mentioned

National Commercial Bank Private Banking

SABB Private Banking

Samba Private Banking

Riyad Private Bank

Al Rajhi Bank Private Banking

Bank Albilad Private Banking

Banque Saudi Fransi Wealth Management

Saudi Investment Bank Private Banking

Alinma Bank Private Banking

Table of Contents

Table of Contents

1 Introduction

1.1 Details of this Report

1.2 Definitions

2 Executive Summary

3 Wealth Sector Fundamentals

4 Distribution of Wealth in Saudi Arabia

4.1 HNWI Volume and Wealth Trends

5 Findings from the WealthInsight HNWI Database

5.1 Trends in HNWI Wealth to 2019

5.1.1 HNWI trend analysis

5.1.2 Wealth band trends

5.1.3 Demographic breakdown of HNWIs

5.1.4 HNWIs – job titles

5.1.5 HNWIs – industry breakdown

5.1.6 HNWIs – industry performance

5.1.7 HNWIs – breakdown by city

5.1.8 HNWIs – city performance

5.1.9 HNWIs – city population densities

5.1.10 HNWIs – city forecasts

5.2 UHNWIs

5.2.1 UHNWI volume trend analysis

5.2.2 UHNWI wealth trend analysis

5.2.3 Demographic breakdown of UHNWIs

5.2.4 UHNWIs – industry breakdown

5.2.5 UHNWIs – city breakdown and performance

5.3 UHNWIs – Billionaires

5.3.1 Billionaire volume trend analysis

5.3.2 Billionaire wealth trend analysis

5.3.3 Billionaire per capita net worth trend analysis

5.3.4 List of billionaires

5.4 UHNWIs – Centimillionaires

5.4.1 Centimillionaire volume trend analysis

5.4.2 Centimillionaire wealth trend analysis

5.4.3 Centimillionaire per capita net worth trend analysis

5.5 UHNWIs – Affluent Millionaires

5.5.1 Affluent millionaire volume trend analysis

5.5.2 Affluent millionaire wealth trend analysis

5.5.3 Affluent millionaire per capita net worth trend analysis

5.6 Core HNWIs

5.6.1 Core HNWI volume trend analysis

5.7 Core HNWIs – Mid-Tier Millionaires

5.7.1 Mid-tier millionaire volume trend analysis

5.7.2 Mid-tier millionaire wealth trend analysis

5.7.3 Mid-tier millionaire per capita net worth trend analysis

5.8 Core HNWIs – Lower-Tier Millionaires

5.8.1 Lower-tier millionaire volume trend analysis

5.8.2 Lower-tier millionaire wealth trend analysis

5.8.3 Lower-tier millionaire per capita net worth trend analysis

6 Analysis of Saudi Arabian HNWI Investments

6.1 Analysis by Asset Class

6.1.1 Trends in alternative assets

6.1.2 Trends in ‘art, wine and wheels’

6.1.3 Trends of investment in real estate

6.1.4 Trends of investment in cash and deposits

6.1.5 Trends of investment in fixed-income

6.1.6 Investment trends in equity

6.1.7 Investments trends in business interests

6.2 Analysis of Foreign Investments

6.2.1 Investments in Europe

6.2.2 Investments in North America (including the US, Mexico and the Caribbean)

6.2.3 Investments in Asia-Pacific

6.2.4 Investments in South America

6.2.5 Investments in the Middle East

6.2.6 Investments in Africa

6.3 Alternative Breakdown: Liquid vs. Investable Assets

6.4 Analysis of Saudi Arabian UHNWI Investments

7 Competitive Landscape of the Wealth Sector

7.1.1 Domestic private banks

7.1.2 Foreign Private Banks

7.1.3 Wealth managers

7.1.4 Family offices

7.1.5 Financial advisors

7.2 Key Drivers

7.2.1 SAR to US$ exchange rate

7.2.2 Real GDP growth

7.2.3 Per capita GDP

7.2.4 Domestic market capitalization

7.2.5 Commodity index

7.2.6 Foreign direct investment (FDI) – inflows and outflows

7.2.7 Inflation rate

7.2.8 Interest rate

7.2.9 Balance of payments

7.2.10 Government debt

7.2.11 Stock market performance

7.3 Wealth Breakdowns

8 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Saudi Arabian HNWIs – Volume Distribution (%), 2014

Table 3: Saudi Arabian HNWIs – Wealth Distribution Wealth Pyramid (%), 2014

Table 4: Saudi Arabian HNWIs – Industry Performance (%), 2010–2014

Table 5: Saudi Arabian HNWIs –Cities, 2014

Table 6: Saudi Arabian HNWI Growth in Top Cities (Thousand), 2010–2014

Table 7: Saudi Arabian HNWIs Population Density in Major Cities (Thousand), 2014

Table 8: Saudi Arabian HNWIs in Top Cities (Thousand), 2010–2019

Table 9: Saudi Arabian HNWIs – Growth Rates for Top Cities (%), 2010–2019

Table 10: Saudi Arabian HNWI Source of Wealth (%), 2014

Table 11: Saudi Arabian UHNWI Gender Performance (%), 2010–2014

Table 12: Saudi Arabian Volume of UHNWI in Top Cities, 2010–2019

Table 13: Saudi Arabian UHNWIs Growth Rates for Top Cities (%), 2010–2019

Table 14: Saudi Arabian Billionaires Market Overview (Volume and US$ Billion) 2010–2019

Table 15: Saudi Arabian Top-10 Billionaires (US$ Billion), 2014

Table 16: Saudi Arabian Billionaire Wealth Growth (US$ Billion), 2010−2014

Table 17: Saudi Arabian Centimillionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 18: Saudi Arabian Affluent Millionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 19: Saudi Arabian Mid-Tier Millionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 20: Saudi Arabian Lower-Tier Millionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 21: Saudi Arabian Allocations of HNWI Assets (%), 2010–2019

Table 22: Saudi Arabian HNWIs − Holdings Growth (%), 2010–2019

Table 23: Saudi Arabian HNWI Alternative Asset Composition (%), 2010–2019

Table 24: Saudi Arabian HNWI Trends of Investments in Alternative Assets (%), 2010–2019

Table 25: Saudi Arabian Trends in ‘Art, Wine and Wheels’, 2010–2014

Table 26: Global Prime Real Estate Prices per m2 (US$), 2014

Table 27: Saudi Arabian HNWI Foreign Investment Allocations (%), 2010–2019

Table 28: Saudi Arabian HNWI Liquidity Breakdown (US$ Billion), 2010–2019

Table 29: Saudi Arabian HNWI Liquidity Breakdown (%), 2010–2019

Table 30: Saudi Arabian UHNWI Allocations and Share of HNWI Assets (%), 2014

Table 31: Leading Domestic Private Banks in Saudi Arabia by Local AuM (US$ Million) , 2014

Table 33: Leading Wealth Managers in Saudi Arabia by AuM (US $m), 2014

Table 34: SAR to US$ Exchange Rate, 2010–2019

Table 35: Saudi Arabian Real GDP Growth (%), 2010–2019

Table 36: Saudi Arabian GDP Per Capita (US$), 2010–2019

Table 37: Saudi Arabian Domestic Market Capitalization (US$ Billion), 2010–2014

Table 38: Saudi Arabian Commodity Indices, 2010–2019

Table 39: Saudi Arabian Foreign Direct Investments (US$ Billion), 2010–2019

Table 40: Saudi Arabian Inflation Rate (%), 2010–2019

Table 41: Saudi Arabian Money Market Rate (%), 2010–2019

Table 42: Saudi Arabian Balance of Payments (US$ Billion), 2010–2014

Table 43: Saudi Arabian Government Debt as a Percentage of GDP (%), 2010–2019

Table 44: Saudi Arabian Stock Market Performance (Index), 2010–2014

Table 45: Saudi Arabian HNWI Wealth vs. GDP Ratio (%), 2010–2019

Table 46: Saudi Arabia– Appendix One

Table 47: Saudi Arabia – Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions

Figure 2: Map of Saudi Arabia

Figure 3: Saudi Arabian Asset Price Performance (%), 2010–2014

Figure 4: Saudi Arabian HNWI Performance (US$ Billion and HNWI Volume), 2010–2019

Figure 5: Saudi Arabian vs Global HNWIs (%), 2010–2019

Figure 6: Saudi Arabian HNWIs – Growth Factor Correlation, 2010–2014

Figure 7: Saudi Arabian HNWIs – Wealth Pyramid (Volume Distribution), 2014

Figure 8: Saudi Arabian HNWIs – Wealth Pyramid (Volume Distribution), 2014

Figure 9: Saudi Arabian HNWIs – Age Distribution (%), 2014

Figure 10: Saudi Arabian HNWIs – Job Titles (%), 2010–2014

Figure 11: Saudi Arabian HNWIs – Distribution by Industry (%), 2014

Figure 12: Saudi Arabian HNWIs – City Performance (%), 2010–2014

Figure 13: Saudi Arabian HNWIs – Population by City (Thousand), 2010 and 2014

Figure 14: Saudi Arabian HNWIs – City Forecasts (%), 2015–2019

Figure 15: Saudi Arabian Volume of HNWIs by City (Thousand), 2015–2019

Figure 16: Saudi Arabian UHNWIs Wealth Share vs Volume Growth (%), 2010–2014

Figure 17: Saudi Arabian UHNWIs Volume by Wealth Band (Thousand), 2010–2019

Figure 18: Saudi Arabian UHNWI Wealth by Wealth Band (US$ Billion), 2010–2019

Figure 19: Saudi Arabian UHNWI Age Distribution (Percentage Share), 2014

Figure 20: Saudi Arabian UHNWI Distribution by Industry (%), 2014

Figure 21: Saudi Arabian Billionaires Market Overview (Volume and US$ Billion), 2010–2019

Figure 22: Saudi Arabian Centimillionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 23: Saudi Arabian Affluent Millionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 24: Saudi Arabian Mid-Tier Millionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 25: Saudi Arabian Lower-Tier Millionaires Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 26: Saudi Arabian HNWI Asset Class Composition (%), 2010–2019

Figure 27: Saudi Arabian HNWI Trends in Alternative Assets (US$ Billion), 2010–2019

Figure 28: Saudi Arabian Trends in ‘Art, Wine and Wheels’, 2010–2014

Figure 29: Saudi Arabian HNWI Foreign Investment Allocation and Growth (%), 2014

Figure 30: Saudi Arabian HNWIs – Global Distribution of Foreign Investments (%), 2010–2019

Figure 31: Saudi Arabian HNWI Liquidity Breakdown (%), 2010–2019

Figure 32: Saudi Arabian UHNWI Asset Class Composition (%), 2010–2019

Figure 33: Saudi Arabian Exchange Rate – SAR to US$, 2009–2018

Figure 34: Saudi Arabian Real GDP Growth (%), 2010–2019

Figure 35: Saudi Arabian GDP Per Capita (US$), 2010–2019

Figure 36: Saudi Arabian Domestic Market Capitalization (US$ Billion), 2010–2014

Figure 37: Saudi Arabian Commodity Indices, 2010–2019

Figure 38: Saudi Arabian Foreign Direct Investments (US$ Billion), 2010–2019

Figure 39: Saudi Arabian Inflation Rate (%), 2010–2019

Figure 40: Saudi Arabian Money Market Rate (%), 2010–2019

Figure 41: Saudi Arabian Balance of Payments (US$ Billion), 2010–2014

Figure 42: Saudi Arabian Government Debt as a Percentage of GDP (%), 2010–2019

Figure 43: Saudi Arabian Stock Market Performance (Index), 2010–2014

Figure 44: Saudi Arabian HNWI Wealth vs GDP Ratio (%), 2010–2019

Figure 45: Saudi Arabian HNWIs – Volume by Wealth Band, 2010–2019

Figure 46: Saudi Arabian HNWIs – Wealth by Wealth Band (US$ Billion), 2010–2019

Figure 47: Saudi Arabian HNWIs – Wealth per Capita (US$ Million), 2010–2019

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