Shocking Wealth Report: Saudi Arabia Tops the Middle East in Millionaires – You Won’t Believe the Numbers!
When you think of wealth in the Middle East, Dubai might be the first name that pops up. But the real surprise is that Saudi Arabia is home to more millionaires than any other country in the region – over 224,000, to be exact.
According to the World Wealth Report 2022, Saudi Arabia stands tall as the wealth capital of the Arab world. Read the report here.
💰 What’s Fueling the Kingdom’s Wealth Explosion?
• Oil & Sovereign Wealth: With one of the world’s largest oil reserves and a $900 billion Public Investment Fund (PIF), Saudi’s economic engine is powerful and diversified.
• Vision 2030: Massive economic reforms and futuristic projects like NEOM, The Line, and Red Sea Global are turning investors into millionaires.
• Mining Boom: Saudi Arabia recently opened a massive metals and minerals hub in Jeddah to support its $2.5 trillion resource potential. Read full article.
👑 Millionaires by the Numbers
| Country | Estimated Millionaires (2024) |
|---|---|
| Saudi Arabia | 224,000+ |
| UAE | ~202,000 |
| Israel | ~180,000 |
| Qatar | ~26,000 |
| Kuwait | High per capita concentration |
🏙️ Wealth Clusters in the Kingdom
Riyadh and Jeddah remain the key hotspots for Saudi millionaires, combining royal wealth, business influence, and growing tech sectors. New investment zones across the country are further expanding this wealthy class.
📈 Why This Matters
As the Middle East races toward innovation and economic diversification, Saudi Arabia is leading the charge in wealth generation. This isn’t just oil money—this is a full-blown economic transformation creating thousands of new millionaires every year.
🔗 More to Explore
• 224 Thousand People in Saudi Arabia Are Millionaires
• Saudi Arabia Opens Major Mining Facility in Jeddah
• Why Qatar is the Ultimate Investment Destination
Saudi Arabia isn't just rich – it's rewriting the rules of wealth in the Middle East.
