5% growth of personal wealth in Kuwait

Boston Consulting Group noted that personal wealth in Kuwait increased by 5 percent between 2016 and 2017, indicating that the main drivers of this growth have been the positive developments I've seen assets abroad, life insurance and pensions.
The BCG predicts that growth in personal wealth in Kuwait will continue to grow at a CAGR of 5%, with assets likely to reach $ 260 billion in 2022.
The report highlights the growth of personal financial wealth in the world [12] The main drivers of this growth are the strong performance of financial markets in all major economies, the recording of wealth in the form of equity investments and equity funds. investment with the highest growth rate, as well as the sharp rise in prices of most major currencies against "Standard solutions and offerings no longer meet customer needs," said Brent Beardsley, senior partner at Boston Consulting Group, a wealth manager and co-author of the report. Wealth Managers have started investing in customized solutions and offerings. "They are always looking for a solution to the difficult equation that will allow them to offer a better experience to their customers."
For his part, a senior partner and director of financial services at the Boston Consulting Group Middle East, Dr. Marcos Massey, of 70 percent of wealth management clients turn to domestic
and he saw As opportunities to create value affect all areas of the wealth management sector, success depends on developing or developing a solid foundation of key administrative capabilities.
predicted that large firms would be able to distinguish themselves from other firms over the next few years, and that filling this void would be an increasingly difficult process for companies that would not adapt to changes .
Massey added that in Kuwait, non-investable assets are expected to grow at a CAGR of 5% over the next five years, with growth in the value of investment assets slightly above 4% in CAGR from 2012 to 2017, to 5% 2017 to 2022.
He continued when it comes to Tuz
He said that by 2022, the distribution of assets should remain stable, with forecasts of a slight growth in currencies and deposits of 2 to 32%.
In Kuwait, overseas assets, life insurance and pensions were the factors that boosted growth by asset class, reaching 5% between 2016 and 2017.
Other factors that contributed to growth by asset class were currency and deposits of 4%, bonds of 3% and stocks and investment funds of 3%.